Wednesday, January 6, 2010

Serious Signs of Double Dip Recession In Spain

From the Business Report:

Accelerating decline in Spanish private sector services activity in December raised fears of renewed recession on the Iberian peninsula, a well-watched survey said on Wednesday.

"It is worrying to see Spain showing signs of a double dip' recession and lagging so far behind the other large euro area service economies," said Markit economist Rob Dobson as purchasing managers' index (PMI) data was released.

"The overall picture of improving health masks severe national divergences, however, with both France and Germany appearing to be fighting fit but Spain displaying worrying symptoms of slipping back into recession."


  1. So that's why Goldman Sachs played the "moving British jobs to Spain" card. It had a country that desperately needed jobs and might play ball on taxes.

  2. Why would anyone be surprised? When he govt pumps hundreds of billions into banks and big corporations your supposed to see them bounce back! But if Huey don't recover on their own then of course you will see another decline. The only reason people are saying it won't happen is because it has never happened before. We also never had these types of unprecidented bailouts before that would artificially turn the tide. Only time will tell if they dis Any real good or if they just staved off the inevitable.