By Félix Lores Juberías and Ignacio San Martín at BBVA Research | Housing sales, which grew by approximately 8%, were shored up by increased lending, the upturn in employment and better consumer confidence.
Conn M. Hallinan | On one level, the recent financial agreement between the European Union (EU) and Greece makes no sense. Not a single major economist thinks the $96 billion loan will allow Athens to repay its debts or get the economy moving anywhere but downward.
Household debt declined 1.2% to 733.24 billion euros in July compared to June, reaching August 2006 levels, according to the Bank of Spain.
Markets, especially stocks exchanges, will continue to suffer from a slowdown in global growth. IMF managing director Christine Lagarde warned on Tuesday that expansion in EM as well as in developed ones will be “weaker” than expected in July.
As usually happens in the month of August, unemployment in Spain rose due to the end of the summer season. The jobless rate climbed by 21,679 people and social security affiliations declined by 134,289. But the unemployment rate decreased by 8% on a year-on-year basis.
By Wang Liwei at Caixin | Aders Borg from the World Economic Forum discusses structural changes and the global financial framework’s future.
Operating conditions continued to improve in August, according to the latest Markit PMI survey. Output grew to a 3-month high, yet new orders rose at levels of 2013.
Economic sentiment improves in Spain thanks to industry, services and construction.
Jackson Hole does not clear up the doubts over whether or not there will be a rate hike in September.
Could emerging markets spillovers push developed ones into recession?