You have to read this article in "Total", sure the headline says out of recession........but read the article. They are nowhere near out of it..................government/media BS.
Quote:
SPAIN is finally out of recession – even though the financial crisis continues.
Estimated figures from the Bank of Spain say the country's GDP grew by 0.1 per cent over the summer months.
But it remains at 1.2 per cent below figures for the same period in 2012.
And the growth announced – the first in two years – occurred over the months of July, August and September, when Spain's economy usually shows a dramatic change from the winter due to the influx of tourists.
The Bank of Spain, however, claims this return to growth is the result of an improvement in the export market in the third quarter of 2013 and economists from the consultancy Arcano calls the country an 'export powerhouse'.
Arcano says private investment and consumer spending will increase in 2014 after consistent falls since 2011, and levels of credit will stabilise.
The firm predicts Spain will be fully out of recession by some time in 2014.
As yet, however, the Bank of Spain's calculations have to be confirmed as they are not official.
The National Institute of Statistics (INE) will issue a report on Gross Domestic Product levels on the last day of October, covering its growth – or otherwise – between July 1 and September 30.
Despite what economy minister Luis de Guindos claims – that this is just the first step towards better times and that the country's public finance, competitiveness and credit levels are 'completely different' from a year ago, unemployment remains at nearly 27 per cent and poverty is increasing.
Doctors across Spain warn that future health problems will be rife, particularly among badly-fed children as they grow into adulthood and among those who cannot afford the drugs needed to keep them in a good condition, as a result of the cutbacks.
Opposition leader Alfredo Pérez-Rubalcaba (PSOE) says 'the worst is yet to come' and reminded the PP government that 22 per cent of the population are living in actual poverty.
Bank data has revealed that in the Comunidad Valenciana alone, 30 homes a day are repossessed.
Jobless figures among the 30-and-under age-group are nearly 60 per cent and the number of long-term unemployed residents has increased nearly fivefold since 2008.
And the international Red Cross has announced that it will have supplied 40 million kilos of food – just less than a kilo per member of the population – to Spain in aid by the end of 2013.
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