spanish economy

Mixed news for Spanish economy

MADRID | The Corner | Spanish Industrial Production figures proved disappointing on Friday, with results revealing that the sector had fallen 0.3% month-on- month and 0.9% year-on- year. The figures will be of some concern to the Finance Ministry given that the economy has recorded seven consecutive months of negative inflation. 

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Spain’s radicals Podemos seize the initiative

MADRID | By JP Marín Arrese | Podemos, the brand-new radical movement, is capitalizing on corruption scandals and crisis side-effects to wreak havoc on traditional parties. The socialists are rapidly losing support while the former communists face utter implosion. Even the centre-right Partido Popular is losing its grip as Podemos promises to lure many of its disenchanted voters. Syriza’s victory is bolstering their chances of snatching a substantial representation in the upcoming regional and local poll and will likely hold a key position for the ensuing power-sharing. Much will depend on how wisely they use their strength to secure their ultimate goal of overhauling the current bi-partisan control in the general election due to take place at the end of the year.

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Spanish housing prices reach turning point

MADRID | The Corner |  With a downward euro (11-year-minimums) and commodities in free fall too, investors are turining again to the housing sector. In Spain, it could become a safe haven again given the low return on deposits and the stock markets’ high volatility.

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Spanish employment swimming in calmer waters

MADRID | By Fernando G. Urbaneja | The macro (and micro)  piece of data tarnishing the image of Spain is that of unemployment, an anomaly for a developed economy. It is not new but a problem we have been suffering for the last three decades. Even during prosperity times, unemployment reached double digits (8% in the most favourable moments). The last great recession exacerbated the problem and jobless rate soared to 25%, bluffering analysts and market makers.

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Spanish NPLs falls for 12th consecutive month

MADRID | The Corner | Non-performing loans (NPL) in the financial sector may have reached their highest rate in Spain, according to Moody’s, thanks to the new economic fundamentals, the slightly better employment data, home prices’ stabilization and the last consumer confidence numbers.


If Spain will lead the Eurozone in 2015 and 2016, what happened to the Spailout?

MADRID | The Corner | In spite of, or maybe, thanks to the so-called Spailout (2012), Spain is today one of Europe’s driving forces. The International Monetary Fund’s estimates on global economy point to the country as the outperformer of the Eurozone for the first time in six years. Its GDP would grow by 2% this year and 1.8% in 2016.

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Spain’s economic confidence at pre-crisis levels

MADRID | The Corner | Economic confidence in Spain reached its highest level in December since June 2007 (105.6 points from 104.2 the previous month), according to the European Commission. The figures show an improvement in trust from consumers, the services sector and retailers.