MADRID| The Corner | Yields on ten-year government bonds remain close to historically low levels.
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.
MADRID | By Sean Duffy | Thursday brought some positive predictions on the Spanish economy from the European Commission, but buoyancy on European markets may be negated by data due from the US later today.
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.
MADRID | By Sean Duffy | Market fears about Greece eased somewhat on Thursday, with Spanish banks recovering the ground lost earlier in the week. Friday brings new data on unemployment and GDP which may bring further good news for the Spanish economy
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.
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.
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.
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.
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.