Goodbye Penguinomics: What’s next?

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Goodbye Penguinomics: What’s next?

Mayo 2008

What have the recent events changed?

The economy is now entering a new, more difficult phase that is not yet reflected in the recent releases of the official numbers that are already one or two months old. One can perceive a change of sentiment, though, and the figures will almost certainly start to show a slowdown in economic activity. Although the deceleration of the economy has been long ago anticipated, the recent deterioration in the business climate, in the credit conditions and in consumer confidence indicates that growth is at a turning point.