News ID: 232487
Published: 0653 GMT October 09, 2018

Spain's economic growth to slow down: OECD

Spain's economic growth to slow down: OECD
Published by cloudfront.net

Spain's economic growth will slow down, the Organization for Economic Cooperation and Development (OECD) warned in its latest index.

Spain fell to 98.94 points in August from the 99.25 of July, a fall that indicates a slowdown in the country's economic growth as well as signs of fatigue, Xinhua reported.

This data was in line with those of other European Union states, such as France or Italy, except for Germany, which remained reliable registering a slight fall in the index.

However, within the large countries of the eurozone, the biggest fall was that of Spain.

"The indicator for Spain points to a slowdown in the growth momentum," said the OECD.

The indicator was designed to anticipate turning points of economic activity and over the last nine months, Spain suffered eight consecutive falls on a month-to-month basis and is at the lowest level since August 2013.

According to OECD experts, these data showed that in the future there may be changes in the evolution of the economic cycle with the euro area as a whole suffering an economic slowdown when some of their economies, such as Spain, still struggle to overcome the economic crisis of 2008.

   
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