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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.

BBC [1]

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Craig Erlam

Craig Erlam [5]

Senior Market Analyst - UK & EMEA at OANDA [6]
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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