Spain’s early bath a surprise to economists
Much the same as economists often struggle to accurately predict data releases, their initial thoughts on how the soccer World Cup will pan out also appear to have been misguided.
While Brazil, the clear favourite to win in a Reuters poll of over 120 football-loving market analysts, is clinging on after a nil-nil draw with Mexico on Tuesday it’s a different story for Spain.
They were a firm favourite to appear in the final against the home nation but crashed out of the tournament in spectacular style on Wednesday after a shock 2-0 defeat by Chile.
“It was very disappointing last night,” said Tom Rogers at Oxford Economics, who had picked the Spaniards to lose in the closing match to Brazil.