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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
Spain tourism

Spanish economy 5th January 2023

Spain receives 67.4 million tourists up to November with spending exceeding 81.8 billion euros

Between January and November of last year, Spain received more than 67.4 million international visitors, with their spending exceeding 81 billion, the National Statistics Institute (INE) confirmed yesterday. This is a good figure when compared with the same period last year, when 28.2 million foreign tourists were received. However, if it is compared with the same period in 2019, before the coronavirus paralysed the world, the figure is somewhat less…

Croatia

European economy, European politics 4th January 2023

Croatia introduces euro, Hrvatska narodna banka joins Eurosystem

The euro has entered into circulation in Croatia today, bringing the number of European Union (EU) Member States using the single European currency to 20. With Croatia’s accession to the euro area, Hrvatska narodna banka, the country’s national central bank, becomes a member of the Eurosystem. The central banking system of the euro area consists of the ECB and the national central banks of the countries whose currency is the…

elecnor eolica

Spanish economy 4th January 2023

Spain: Electricity demand down 6.7% in December

Spanish electricity demand fell by 6.7% in December compared to the same month of the previous year and after discounting the effects of temperature and working hours. In gross terms, demand is estimated at 20,437 GWh, 7.2% lower than in December 2021. Generation from renewable energy sources accounted for 45.1% of the mix in December. In December, wind energy was the main generation technology in our country. Its production accounted…

US unemployment

Spanish economy 4th January 2023

Workers on fixed discontinuous contracts: the unemployed counted as employed by the government

Being on a fixed discontinuous contract means a worker has a recurrent seasonal job and therefore works and is registered with the Social Security during the periods when the employer needs him and he is actually working; while in the periods when he is not registered, he can work somewhere else on another contract, or be collecting unemployment benefits… or neither of the two. The only thing that is clear…

Ferrovial

Companies, Spanish economy 4th January 2023

Ferrovial to build data centre for Microsoft in Madrid

Intermoney | Ferrovial  are to build a new data centre for Microsoft in San Sebastián de los Reyes (Madrid), according to the business and finance daily, Cinco Días. Although the amount of the investment has not been disclosed, the newspaper’s sources put it at “hundreds of millions”… Microsoft plans to invest up to 12 billion euros in 17 data centres in Europe; in this way, the company would comply with…

cie automotive

Spanish economy 3rd January 2023

Car sales in Spain down 5.4% to 814,000 units in 2022, Toyota overtakes Seat as best-selling brand

In December, car sales in Spain reached a volume of 73,927 units, which represents a significant decline of 14.1% compared to the last month of last year. For the year as a whole, 814,000 cars were sold in Spain, 5.4% less than in 2021. “In this third consecutive negative year, in which some 400,000 fewer units have been registered than before the pandemic, the lack of supply has taken its…

iberdrola guapis

Spanish economy 3rd January 2023

Iberdrola: sale of renewables in Spain could be closed in January, Norges most likely buyer.

Sabadell: According to press reports, the sale of 49% of a portfolio of 1,200MW of renewable assets could be closed in January. Norges would be the most likely buyer, although Pontegadea could also be in the final stages of the bidding process. The intention to sell this stake was announced in September and IBE’s goal is to find a strategic partner to help it boost its renewables in Spain. The…

sa alquila linda casita

Spanish economy 3rd January 2023

Rents up 8.4% in 2022 in Spain

Bankinter | According to data from the Internet real estate portal Idealista, rental prices rose a little more than 8.4% in December compared to the same month in 2021. This compares to an increase of 7.3% year-on-year in November. On a month-on-month basis, it was up 1.1% in December. Analysis team’s view: The increase in rental prices is in line with the CPI we estimate for 2022 (8.4% on average),…

unemployment spain

Spanish economy 3rd January 2023

Unemployment in Spain falls by 268,252 in 2022, and now stands at 2,837,653

Unemployment registered in the offices of public employment services in 2022 recorded a decrease of 268,252 people (-8.6%), to a total of 2,837,635 unemployed, the lowest figure in a year-end since 2007, according to figures released by the Ministry of Labour and Social Economy on Tuesday, and reported by the Europa Press agency. With the decline recorded in 2022, unemployment has now dropped for the second year in a row…

Kristalina IMF

World economy 2nd January 2023

IMF warns: a third of the world economy will fall into recession by 2023

The IMF’s Managing Director, Kristalina Georgieva, warned on Sunday that the world faces a “tougher” year in 2023 than in 2022, saying that a third of the world economy will be affected by recession this year. “The US, China, and the eurozone are all slowing simultaneously. Half of the European Union will be in recession and over the next few months, China’s growth will be negative and its impact on…