Spain’s ‘Real’ GDPCould Be 21% LowerThanReported http://feedly.com/k/17LGA3S With Spanish unemployment surging, tax collection so low, and delinquentloanssoaring (thoughunderstatedduetoshiftsintheSareb ‘definition’swhichmeansan ~11% levelsis more like ~14%), it is ‘odd’, as El Confidencial notes, that GDP has only modestly declined. The fact of the matter is – things do not add up and the following three charts highlight the dramatic divergencesbetweenofficial (government-supplied) data andsynthetic (market-based) measuresofactivity in the … Seguir leyendo Spain’s ‘Real’ GDP Could Be 21% Lower Than Reported