Financial Times FT.com

Economy: 14 years of construction-led growth go into reverse

By Peter Wise

Published: June 9 2009 15:22 | Last updated: June 9 2009 15:22

Destructive forces unleashed in Spain by the global economic crisis are demolishing jobs, companies and public spending surpluses at an alarming rate, bulldozing the impressive gains made over 14 years of construction-led growth.

The extent to which the country can channel these negative energies into removing obstacles to more efficient markets and pushing more companies to compete internationally is regarded as the key to a sustained recovery.

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