| Author (Person) | Mars, Amanda |
|---|---|
| Series Title | El País |
| Series Details | 11.07.14 |
| Publication Date | 11/07/2014 |
| Content Type | News |
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After a protracted double-dip recession, Spain has turned the corner. Growth has resumed, and unemployment is falling. Exporters are gaining market share and the current account is in surplus for the first time in decades. Financial conditions have improved sharply, with sovereign yields at record lows. Business investment is rebounding strongly and private consumption has also started to recover due to improved employment prospects and rising confidence. But the legacy of the crisis persists. Unemployment, at 26%, remains unacceptably high, with the majority of the unemployed without a job for at least a year. The labour market remains highly fragmented with a large share of workers dependent on temporary and involuntarily part-time jobs. Livings standards have fallen, trend productivity growth is low, and the deleveraging of high debt burdens—public and private—is weighing on growth. |
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| Source Link | http://elpais.com/elpais/2014/07/11/inenglish/1405070513_901896.html |
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| Countries / Regions | Spain |
