(Fishing an article in our blog bolseando2.blogspot.com)
Why not lows the unemployment in Spain and in other countries do?
Why is not the Spanish economy coming out of the hole and the German does?
Diving in the website of the Ministry of economy and finance are found interesting graphics that help us to understand it. Let's look at one.
It is the industrial production index
with comparison of Spain, EU and OECD. Clearly shows that after the suffered crisis, the industrial production of the OECD and the EU has recovered to levels of 2005 and 2003 respectively, but the Spanish industrial production remains so low that we have to get out of the chart back in time to compare. Extrapolating a little at eye mode, levels of 1997 or 1996 perhaps? Of course what is clear is that there has not been a recovery in industrial activity
, and without a strong industrial activity, able to export and generate added value, we can hardly hope to maintain a society based on the service sector. We need a good industrial base to support the rest, as the agricultural base already does.
And other surrounding countries, How are they? Let's see
We can see that Germany has recovered rapidly similar production levels to 2006, only 4 lost years, but France is pretty weak, and United Kingdom is little different from Spain on behavior of its industrial sector. It is not surprising that also in the United Kingdom the crisis is living with harshness.
Spain and UK are not recovering properly because its industrial production does not grow properly from the bottom reached in 2009. The industrial output is not recovering.
[Via: economic crisis in relatividad.org]