I'm sure you know that the
Bank of Spain revised down its growth estimates for the Spanish economy last week. They can hardly have missed the headlines that these days have summarized the entity's report. Regardless of how many and why these reviews have been, the most notable thing has probably been the tone with which the information has been treated. It is true that there is going to be less growth, but the expected growth is far from the scenarios that are inferred from the way in which the news is treated. 4.1% is less than what was expected two months ago –date of the last review– and considerably less than we thought we were going to grow at the beginning of the year –almost two points–, but it is still 4.1 %.
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