Tuesday, October 22, 2013
"Telefónica says this is one among precious few forward-looking indicators of economic activity and consumption in the country," Roman stated. "That makes it a useful one, keeping in mind that most of the indicators commonly looked at by analysts and economists, like employment, economic growth and inflation, are backward-looking."
Spain had been mired in the second "dip" of a double-dip recession that began in 2008 with the global economic crisis. Its unemployment rate reportedly exceeded 26 percent in April 2013. But in September 2013, Spanish Prime Minister Mariano Rajoy said Spain's economy expanded 0.1 to 0.2 percent between July and September 2013, which technically means Spain is no longer in a recession.
However, Roman said Spain's prepaid phone card sector has a ways to go before the average amount of monthly spending on prepaid phone cards will match the pre-recession level of 15 euros per user.
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