Goldman Sachs changes its mind on Spains economy

Goldman sachs last year painted a very black future for Spain, economic forecasts for 2013 predicted that “the worst is yet to come” however, only 12 months after the investment bank made this statement they have been forced to back down and admit they were wrong in their forecasts for the Spanish economy.

In an analysis entitled ‘ mea culpa o mea máxima culpa? ‘ Goldman Sachs was surprised by the unexpected success of the measures implemented by the government and claims that the report contained successes but ” too many errors “.

Goldman Sachs changes its mind on Spains economy

In fact the company explains that its forecasts for Spain were completed until the second quarter of 2013 , although from this date the major reforms began to bear fruit and changed the scenario provided by the analysis team.

Also ” inflation has surprised many as its been on a downward trend and adjustments the Spanish government has implemented has shown benefits of certain measures” , Goldman Sachs has stressed that both the growth of Spain and France have exceeded their “weak expectations “.