The economic landscape is not looking good in Spain with reports from recent surveys indicating that the economy is still in a shambles
According to Angus Reid Global Monitor
Most people in Spain believe the country’s financial situation is dire, according to a poll by Centro de Investigaciones Sociológicas (CIS). 71.3 per cent of respondents describe the economy as being in bad or very bad shape.
In addition, 20.8 per cent of respondents expect the economy to get better in one year, while 32.3 per cent believe it will get worse.
It is interesting noting that over 32% of the respondents expect the economy to get worse, against approx 21 % expecting an improvement
But the overriding figures are that over 70% describe the social and business economy in bad shape
This indicates that there is large majority of the population that are pessimistic about the immediate future
Given these benchmark responses it is unlikely that the recovery will begin until the confidence factor changes from negative to positive
One of the most important KPI’s is the real estate and property market restoring this market sector is essential before it is likely that Spain will see an overall improvement in the economy
Tough times !