Spain: the recovery in activity and employment continues in 3Q14

Summary

The trend in the variables at the closing date of this report indicates that the recovery of the Spanish economy is continuing during the 3Q14. BBVA Research estimates that GDP quarterly growth will be between 0.4 and 0.5%. If confirmed, this would imply a slowdown in the growth rate. Improvements in activity are being accompanied by employment creation, which could result in stagnant productivity.

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