70% of Spanish Citizens Don’t Believe Prime Minister Rajoy on the Recovery

70% ofSpanishCitizensDon’tBelieve Prime MinisterRajoyontheRecovery

In what may be the least shocking economic statistic reported so far this year (albeit it’s very early), 70% ofSpanishCitizensDon’tBelieve Prime MinisterRajoyontheRecovery.

Via translation from El Economista

In 2013, Prime Minister, Mariano Rajoy, promised the "economic recovery" would begin in 2014.

A survey released Wednesday by the newspaper El Mundo shows 71% of the citizens of our country believes that recovery will begin in 2015. A mere 17% trust the recovery will start this year and 8% estimated that the recovery actually started in the latter part of 2013.

The stats have gotten worse. A year ago 30% of Spaniards saw 2014 as the year of recovery, now that number is down to 17%.

With regard to the personal situation of respondents, only 20% believe their life from an economic point of view will be better in 2014. 75% believe it will be the same or worse.

Mike "Mish" Shedlock

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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