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Tuesday, July 23, 2013 8:33 PM

99% Believe the Economic Situation in Spain is Bad; How Much Worse Can This Get?

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According to the latest Eurobarometer, 99% believe that the economic situation in Spain is bad.

Via Google translate from La Vanguardia.

79% of Spanish unemployment considered as the main problem of the country and 99% believe that the economic situation in Spain is bad, according to the latest Eurobarometer survey published today. In comparison, 51% on average in the European Union (EU) believes that the main challenge for the country is 72% unemployment and the economic situation is bad.

Regarding the future, almost half of the Spanish respondents, 46%, believes that the country's economic situation will remain the same over the next twelve months, compared to 15% who think it will improve and 37% who think it will be worse.

62% do not believe that the economic crisis has already had its biggest impact on the labor market and therefore the economy is recovering slowly, and, on the contrary, they think that "the worst of the crisis is yet to come".
How Much Worse Can This Get?

The good news is 99% negative consensus has little room to drop.

However, 15% think the economy will improve, 37% think it will worsen, and 46% think it will remain the same. 2% don't know.

That score can worsen, and it probably will.

Mike "Mish" Shedlock

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