By Carlos Díaz Guell | A sound Mexican GDP is important for the several thousands of Spanish companies with business activity in the country.
BARCELONA | CaixaBank | The exorbitant rise in house prices has not been uniform or widespread in China but has been concentrated in a few of the country’s large cities. Yet, it’s important not to lose sight of the risk entailed by a real estate boom.
Discretion advice: If you are an European businessman struggling to get credit, or a US home buyer looking for a reasonable interest rate mortgage, this may hurt your feelings: Canada’s banks are lending money.
AMSTERDAM | Fleur de Weerd | Although Spain is always mentioned as the country with the greatest unemployment, the situation in Italy and Bulgaria is more worrying.
BARCELONA | CaixaBank | The adjustment in employment during the crisis has been more intense in those countries with a real estate bubble. Leading indicators point to further job losses.
China’s GDP grows by 7.4% in the third quarter, in line with the consensus, CaixaBank says. Exports push forward with a solid 9.9% year-on-year last month.
German pro-austerity forces, allied with their Spanish collaborators, are managing the crisis with a strong hand, but in exactly the wrong direction.
The extremists of the Tea Party have ruined the Republican Party and threaten now with bringing to a halt the Congress and the government. Economic indicators are already signalling danger.
As anger and despair over austerity spread in Europe, more US analysts are expressing their solidarity towards protesters and skepticism towards policy makers. A turning point was IMF’s shift, saying that tax hikes and spending cuts causing far more economic damage than experts had assumed.
Economic weakness will remain in the second half of the year, CaixaBank analysts say. Consumer confidence fell again in the third quarter of the year. The IMF also lowered its growth forecasts.