Spain win the soccer but German economy on top

Interesting article by BBC European correspondent Gavin Hewitt comparing the Spanish and German economies. Spain might have won the soccer but the German economy is in much better shape .  ‘Recently, a German newspaper trumpeted a new economic miracle. Industrial orders were 30% higher than a year before. For Mercedes Benz, June was the best month in its history, with orders up 13% on the previous year. Unemployment has fallen for 12 straight months. Growth this year could be 2.3%. In Spain unemployment continues to edge up. It is close to 20% and is more than 40% for those aged between 16 and 24. The International Monetary Fund forecasts that Spain’s economy will shrink this year by 0.4%. It is struggling to emerge from recession. Spain has a budget deficit of 10%.’

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