The Spanish economy is in danger of lagging behind the main advanced economies in recovering from the crisis caused by the Covid-19 pandemic and is once again showing signs of weakness when, on the contrary, all the Organization's countries for Economic Cooperation and Development (OECD) and the eurozone experience a strengthening of their prospects.
The last reading of the composite index of leading indicators (CLI), designed by the OECD to anticipate turning points in economic activity during the next six to nine months, stood in the case of Spain at 93.72 points, compared to the 94.31 of the previous month.
Thus, the OECD leading index fell 0.63 points compared to the June result and is 7.09 points below the level registered in July 2019.
"This month, the CLI for Spain points to tentative signs of a slowdown," a spokesperson for the organization told Europa Press, in contrast to the "continued strengthening" observed for the OECD and the euro zone as a whole.
The OECD already identified Spain last June as the economy most threatened by the impact of the Covid-19 pandemic, with an estimated GDP contraction in 2020 of between 11.1% and 14.4% depending on whether or not there is a virus outbreak.
In this way, the prospects for the evolution of the Spanish economy in the coming months are different from those of the group of members of the 'think tank' from developed countries, whose general indicator has improved to 97.98 points from 97, 04 of the previous month, which is equivalent to a "continued strengthening".
For its part, the CLI index for the United States rose to 97.44 points from 95.99 the previous month, although it still remains 1.74 points below the reading corresponding to July 2019, but with a "continued strengthening "of the economy.
This continuous improvement in the economic outlook can be extended to the rest of the major OECD economies, including the euro zone, whose CLI index has improved to 97.29 points from 96.68 the previous month, although still 2.39 points below the level of a year earlier.
In the case of Germany, France and Italy, the corresponding readings of the composite indicator in July have also registered improvements compared to the previous month, rising to 98.85, 97.94 and 95.89 points, respectively, which represents a "strengthening continued "of the economy, in line with the trend for the OECD as a whole.
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