The current account tipped in to surplus for the first time since August 1998, mainly due to a services surplus prompted by improvement in the tourist industry and a primary income surplus -- the difference between money paid abroad and money received.
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"Even so, this is a piece of good news for the Spanish economy this year. Spain has managed to improve the trade deficit, the services balance is better due to strong tourism and so, from this point of view, it's positive."
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Probably just a one-month blip, but if it's the start of a long term trend, then it could be the best macroeconomic news for the Euro since the start of the crisis. If Spain can run an annual current account surplus, the acute phase of its crisis is effectively over.
http://www.reuters.com/article/2011/12/30/spain-prices-idUSL6E7NU0A020111230
