Unemployment fell by 112,400 people in 2019, 3.4% less than in 2018, registering its seventh consecutive annual decline. This drop is the smallest since 2013, when unemployment fell by 85,400 people. The fall in unemployment was four times less in 2019 compared with 2018.The jobless rate stood at 13.78% at end-2019.
Atlantic Sentinel | Left-wing separatists would allow the social democrat to become prime minister a second time. Spanish Socialist Party leader Pedro Sánchez fell short of a absolute majority in Congress on Sunday to become prime minister a second time. However, left-wing separatists from the Basque Country and Catalonia have agreed to abstain from a second vote on Tuesday, which should allow Sánchez to scrape by with a majority of one.
Círculo de Empresarios | The Bank of Spain forecasts that the Spanish economy will embark on a gradual path of deceleration until 2022, and therefore maintains its 2% and 1.7% annual growth forecasts for 2019 and 2020, respectively. GDP growth rests on the back of positive evolution of domestic demand owing to the healthy wealth situation of households and companies, and a monetary policy that is accommodative. In contrast, the external sector loses dynamism as growth in exports is less than imports in an environment rife with global uncertainty.
Círculo de Empresarios | In Q3 2019, the Competitiveness Trend Index 1of Spain fell by 0.8% in comparison to the EU-28. This confirms that, since January, the competitiveness via prices of the Spanish economy has improved due to the moderation of the CPI (0.1% interannual in October).
Círculo de Empresarios | In August, Spain recorded the third largest economic slowdown among OECD countries, after Ireland and Slovenia. Between January and August, the arrival of international tourists to Spain increased by 1.5% year-on-year and tourism spending increased by 3.2% year-on-year.
BBVA Research | After slightly disappointing in the second quarter of 2019, Spanish economic growth could be around 0.5% quarter on quarter in the third quarter. Downward pressure on growth and job creation.
Bankia Estudios | Spanish GDP slows more than expected. The provisional GDP data for Q219 has disappointed, by registering a quarterly growth of 0.5%, one tenth below our forecast and the Bank of Spain´s estimate.
Fernando G. Urbaneja | Carlos Sáez Gallego presides over the oldest of the three global proxy solicitors in Spain (1935), those entrusted with securing votes in support of the Board´s proposal in the shareholders´ general assembly. There “we recommend Spanish listed companies to international standards of corporate governance … 47% of their shares lie in international portfolios. That, which is good, sign of confidence, means more pressure to comply with those standards”.
Joan Tapia | The Bank of Spain, by raising its growth forecast for 2019 from 2.2% to 2.4%, has confirmed that the Spanish economy has begun the year better than expected. Thus are undone the catastrophic forecasts of some analysts and the political right.