Europe’s fourth largest economy, Spain, grew the third quarter with year-on-year value of 3.40%. On a quarterly basis, the economy decelerated to 0.80% meeting previous and expected values. Readings obtained on Thursday indicate the highest rise since the last quarter of 2007, the beginning of Europe’s financial crisis. Household consumption increased by 3.50% and investment up 6.50% on the year. Government spending also rose by 3.00%. Fridays CPI values showed consumer prices are expected to contract by -0.30% beating October’s values of -0.70% and median estimates of -0.50%. As employment rises in Spain, its economy is among the fastest growing in the Euro Area this year. Low energy prices, easier financing conditions boosted in large part by the ECB, coupled with tax breaks have shown a substantial boost in economic momentum. The EURUSD ended the last week lower, tumbling below the 1.0600 threshold to 1.0596 before the close of trade.
A Rocky Week To Come
Daily Analysis - 30/11/2015