This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Funcas mejora la previsión del PIB de 2010
Func improves the forecast of GDP in 2010
03/09/2009
September 3, 2009
The Spanish Foundation of the savings banks (Func) maintains the anticipation of closing of the year 2009 (- 3.8%), although it improved two-tenths the fall scheduled for 2010, up - 1% due to several factors such as the best prospects for the international economy, the latest results of national accounting and the speed with which the household saving rate is resetting. Also the consumer confidence index rises to levels of 2007.
In addition, in its last published report, Func has also improved its forecast of unemployment rate next year up 20.5%, while he noted that the evolution of employment will continue to be negative, "not only this year"", but also during the next year".
