Spain Economic Outlook. Second Quarter 2013

Summary

- Differences in economic growth widen, particularly among developed countries. - Banking union, correcting structural imbalances and commitment to reform are the keys to growth in Europe. - Spain’s economy will bottom out in 2013. Growth in 2014 will be buoyed by a better international environment, smaller internal imbalances and structural reforms. - Salary moderation in 2012 avoided higher job losses.

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