Spain in the fast lane – Commerzbank

Dr Jörg Krämer, Chief Economist at Commerzbank, suggests that the economic gap within the euro zone has turned around, as industrial production shows.

Key Quotes

“In the reform countries, lead by Spain, industrial production has increased markedly. Reform measures have enabled these countries to improve their competitiveness significantly and companies are regaining market shares.

In France and Italy industrial production has picked up again, too. In both countries, the economy has returned to a growth path.

At the same time, the German economy has lost momentum. Industrial production is now only just above the previous year’s level.

We expect the upturn in the reform countries to continue in 2016. The pace of growth is unlikely to strengthen though; we expect to see only moderate growth in Germany, France and Italy in 2016.”