Spain and Italy Receive Economic Recovery Boost

Spanish shops are now hiring at pre-crisis levels, while business confidence is also holding up in Italy, according to official figures.

Spain’s national statistics agency said retail hiring in November grew 1.8% on last year, the fastest rate since Spain entered a deep recession in 2008.

In Italy, figures on Tuesday showed business confidence fell in December, but remained close to recent highs.

Italy and Spain are the eurozone’s third and fourth largest economies.

Spanish retail sales increased 3.3% in November compared to last year, the sixteenth consecutive month of growth, according to the National Statistics Institute.


Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.