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Justin Kuepper

Spain ETF Defies Economic Reality

By January 21, 2013

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The iShares MSCI Spain Index ETF (NYSE: EWP) is trading up 52.2% over the past six months, as investors have becoming increasingly optimistic about a eurozone recovery. But despite investor optimism, the country has seen its exports fall, housing market contract, and a record 26% unemployment rate during the last quarter of 2012.

Spanish officials also predict that the eurozone's fourth largest economy will face a further slump this year at a time when the government struggles to meet its budget goals, according to a recent article on Bloomberg News.

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