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EU Forecasts Spanish Recovery until 2014

Spanish media are reporting that the European Commission will make public their economic forecast for Spain this Friday. The numbers circulating out of Brussels are a dire contrast to what Spanish politicians have been announcing. EU anticipates a 1.6% contraction of GDP in 2012 and 1.5% next year. Spain will see growth until 2014 with a 0.5% advance.

Earlier Spanish Labor Minister Fátima Báñez announced a drop of 1.5% for this year and only a contraction of 0.5% in 2012. The figures out of the European Commission will put pressure on the Spanish government to address the actual state of the economy and the recovery timeline as the markets await an official Spanish bailout request

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Alfonso Esparza

Alfonso Esparza [5]

Senior Currency Analyst at Market Pulse [6]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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