A booming jobs market and surging tax revenue have economists arguing that disappointing data don’t accurately reflect the speed of Spain’s recovery from the euro area’s deepest recession.
Growth numbers that missed expectations in the past two quarters have turned the Spanish economy from a potential leader of the region’s post-pandemic revival to a laggard, trailing nearby France and Italy.
Many experts aren’t convinced, however. They argue that high-frequency data and indicators like demand for construction materials and a jump in credit-card spending paint a much rosier picture for the eurozone’s fourth-biggest economy.
The reality will be vital for ...