The seams of the expansive cycle
Public consumption and tourism account for half of the quarter's progress. Inflation persists
Spain's economy has shown resilience, growing 0.6% in the third quarter, similar to the previous quarter and outpacing other major European economies. In contrast, France is on the brink of recession, which could exacerbate its social conflict and debt crisis. According to the EPA, employment in Spain continues to grow, but with concerning signs of a cooling economy.
The public sector is creating jobs, while the private sector is losing them, a trend not seen since the pandemic. All net employment growth in the period came from foreigners and people with dual nationality, while nationals experienced a significant decline of around 150,000 jobs.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
