The AEB employer warns that it is difficult for private consume pull the economy through containment of wages and unemployment.
Is estimated that the Spanish economy will grow about 0.5% in 2011, far short of the forecast, because it predicts a sharp drop in the fourth quarter of the year which could follow another decline in the first months of 2012.
This way, at the end of March of next year, Spain could re-enter in recession, according to forecasts of economic-financial report in December of the Spanish Banking Association.
On the hopeful side, the employer is probable to achieve the fiscal consolidation target for the deficit does not exceed 6% of PIB this year.
The AEB adds that the Spanish economy has reduced its need for financing and debt but says it is very difficult for private consumption pull the economy if you consider containment of wages and high unemployment.
Jon Mikel
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