Despite the political stalemate which has prevailed throughout all of this year, Spain’s economic resurgence does not appear to have been dented.
For the last eight months, Spain has had only a caretaker government with limited powers, prompting warnings that this would undermine the delicate recovery.
Acting Prime Minister Mariano Rajoy, the leader of the conservative Popular Party, has been trying for months to negotiate a coalition arrangement as a result of two inconclusive general election outcomes, first in December and again in June.
With no agreement reached to-date, Spain could face yet another election round.
But for the economy, "there is little evidence that this is having a significant impact", according to chief economist Miguel Cardoso at BBVA Research. Most indicators, he believes, have remained positive.
Last year the economy raced ahead at 3.2%, one of the vibrant results in the eurozone, while GDP has gone up for 12 consecutive quarters.
The growth has been backed by household spending which, Cardoso warns, could have a limit. Although more people are finding jobs, unemployment remains stubbornly high at 20% - the eurozone’s second highest level after Greece.
The quantitative easing measures taken by the European Central Bank have been said by analysts to have helped boost the economic revival, making it possible to keep interest rates low for businesses and the government.
