The latest Spanish fiscal package shows that the Government is willing to pull out all the stops to prevent a steep economic contraction. But with the effects on the economy of the housing market downturn and slowing external demand some way from their peak, we continue to think that the risks to the consensus forecast for a 0.5% fall in output next year lie firmly to the downside.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.