Obviously I'm not at all optimistic with respect to the English economy. But what of the anonymous report is passed. I'm no expert in national accounts (and Gold Angel Martin tells me that maybe I'm wrong in this interpretation), but I seems that differences in the indicators presented in the report can be explained by two facts:
(1) public spending has risen from 60,000 million euros in 2007;
and (2) the current account gap has been closed in nearly 50,000 million euros since 2007.
So with only these data can be reconciled to a drop in private domestic demand by 17% with a total GDP decline of only 4% ... almost.
I also find it curious that this analysis arose in the week mentioned both electricity demand and economic activity indicator (to measure up the strike). And is that electricity demand in Spain fell only 4% in the 18 months between mid 2008 and early 2010 and to my surprise, he has been recovering since the beginning of the year. As the chart shows, the picture is much more positive than in the UK, where demand has fallen nearly 9% since April 2008 and shows no signs of recovery. And of course the good thing about these data is that they are Power Grid, a privately held company less susceptible to manipulation by the government.
Finally, the paradox of the decline in employment in Spain seems to me that is explained in Jonathan Tepper graphics in this program Singulars Els (go to minutes 7). Can be summarized in the words of Jesus in the Gospel of Matthew (13 v. 12): "Anyone who has, more will be given and still have an abundance, but did not have, will be taken away even what he has. "
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