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Deutsche Bank release strong Spanish economy report
The Deutsche Bank have issued a report on the Spanish economy entitled Spain 2020, the success story continues. The report details the four main areas which have contributed to Spains continuing economic growth. The surge in Labour input, the increase in the country's graduate and skilled population, a greater degree of openness due to participation in the EU and International trade and lastly the strenghtening of innovation within the economy from continued government support.
The report, which is freely available at www.dbresearch.com, documents how the Spanish economy has benefitted from higher growth than Germany, Italy , France and Portugal since the beginning of the decade and looks set to continue. The Spanish economy is now the ninth largest in the world and the average consumption or spending power of spanish nationals has risen accordingly, at over 4% annually. Interestingly too, the country has changed from an emmigration country to an immigration one; over 2 million people have come to Spain since 2002.
Other significant information includes the fact the Spanish government has itself invested greatly in the country's infrastructure including high speed rail links etc. unlike other European economies where investment activity has decreased. As regards the property sector, the exceptional growth has been due to the factors mentioned above and other important features such as the low mortgage rate. Although the growth can not be expected to continue, the report suggests that the slow down is no different to the property sectors in the other European economies. The report argues that a major adjustment is neither likely nor necessary due to strong fundamentals.
12.10.07.
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The Deutsche Bank have issued a report on the Spanish economy entitled Spain 2020, the success story continues.12/07/2007
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