Spain’s 2014 GDP Target Raised By 450 Percent: CITI – ValueWalk Premium
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Spain’s 2014 GDP Target Raised By 450 Percent: CITI

Spain’s recovery has accelerated on the back of growing corporate profits and faster than expected job growth, causing Citi to raise GDP growth forecasts from 0.2% to 0.9% for 2014 and from 0.8% to 1.1%, providing what could be a roadmap for Portugal to follow.

“The financial position of the corporate sector has improved significantly over the past 4 quarters on the back of strong export-driven revenues and ongoing declines in labour costs, resulting in hefty profit growth,” writes Citi analyst . . .

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