Spain’s economy creeps back to health

“Spain is back,” says JPMorgan. In the final quarter of 2013, GDP grew by 0.3%, the fastest quarterly rate in six years. The number of unemployed has dropped for the first time in a decade.

“Growth in both the manufacturing and services sectors is creating new jobs, and consumer demand is creeping back,” says The Economist. However, “the brakes on growth and job creation remain many”.

The government is cutting back; public debt has jumped from 40% to 100% of GDP in the past six years, and last year’s budget deficit target of 6.5% of GDP [...]

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