Spain Italy fact of the day

Spaniards have became richer than Italians — a heartening indication of Spain’s economic revival but a worrying sign for Italy, the eurozone’s third-largest economy, which is stuck in political gridlock. Spain’s per capita gross domestic product exceeded that of Italy in 2017, according to IMF data published this week that compare countries on a so-called “purchasing power parity” basis. The IMF also forecast that Spain would become 7 per cent richer than Italy over the next five years. A decade ago Italy was 10 per cent richer on the same basis.

That is from Valentina Romei from the FT.