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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.

In the World 23rd April 2025

Trump says Powell doesn’t know what he’s doing and calls for interest rate cuts

Link Securities | As reported by various agencies (Bloomberg, Reuters), the US president’s economic adviser, Kevin Hassett, indicated last Friday that the Trump administration was still considering whether to fire US Federal Reserve Chairman Jerome Powell. Hassett accused Powell of playing politics from his post, while US President Donald Trump, for his part, indicated that Powell did not know what he was doing, and again advocated interest rate cuts over…

Spanish economy 23rd April 2025

Spain’s general government debt rises 2.6% to €1.646 trillion in February

The debt of the Public Administrations stood at €1.646 trillion in February, which represents a growth of 2.6% in year-on-year terms, with €42,051 million more, as reflected in the data of the Excessive Deficit Protocol published by the Bank of Spain. Compared with the previous month, the debt balance increased by €16,906 million, or 1.04%. Specifically, the State debt stood at €1.498 trillion, with a year-on-year increase of 3.8%, while…

In Spain 23rd April 2025

Sánchez increases defence spending by €10 billion with no budgets and bypassing Parliament

Pedro Sánchez announced yesterday that Spain will increase its military spending by €10 billion this year, although only 20% of that figure will be allocated to the purchase of equipment and materials, while 35% will go to raising the salaries of the military. With this increase, Spanish spending on security and defense will reach 2% of GDP this year, totaling more than €33 billion. Sánchez thus contradicts himself, once again,…

In Europe 22nd April 2025

Ferrovial strengthens portfolio in Poland after being selected to execute three projects worth €266 million total

Link Securities | Ferrovial (FER) is to strengthen its portfolio in Poland, its second largest construction market after the United States, according to elEconomista newspaper. The Spanish multinational, through its Polish subsidiary Budimex, has recently been selected by Poland’s General Directorate of National Roads and Motorways to carry out three projects totalling zł1,139.2 million (around €266.5 million at current exchange rates).

In the World 22nd April 2025

US manufacturing sector deteriorates, enters contraction zone falling to 49, reflecting tariff wars

Bankinter: The Leading Indicator declines more than expected in March: down 0.7% month-on-month in March against the drop of 0.5% estimated and 0.2% previous (revised from 0.3%). The main detractors are Consumer Expectations, Stock Prices and Manufacturing Orders (ISM). By contrast, Average Hours Worked, Building Permits and Unemployment Claims contributed positively. Of the 10 components that make up the indicator, half contribute negatively. Bankinter analysis team’s view: Negative data for…

European economy 22nd April 2025

Eurozone March inflation confirmed to have moderated to 2.2%, core to 2.5%

Singular Bank: According to Eurostat’s final reading, in March the year-on-year rate of change of the Eurozone’s headline CPI moderated slightly to 2.2% (compared to 2.3% in February), its lowest since November 2024. This year-on-year increase was mainly explained by the contribution of services (up 1.56pp), followed by food, alcohol and tobacco (0.57pp) and non-energy industrial goods (0.16pp), in contrast to the negative contribution of energy (down 0.10pp). In a…

In Spain 22nd April 2025

Tax pressure on average Spanish family increases 30% due to non-deflation of Personal Income Tax

The Foundation for Applied Economics Studies (Fedea) has calculated that the non-adjustment for inflation of the Personal Income Tax (IRPF) for a family of four with a gross income of €50,000 has led to a 30% increase in the tax bill, although the effects are even greater in proportional terms for lower incomes. In its latest report, Fedea has analyzed the consequences of not updating the tax scale and the…

Spanish SMEs provide jobs for 71% of social security contributors

Spanish economy 21st April 2025

Spanish self-employed workers: Lower turnover and higher expenses

This is revealed by the latest Barometer from the Association of Self-Employed Workers (ATA), which details that “40.9% of self-employed workers state that their turnover has decreased in the first quarter of the year compared to 2024,” while “28.4% believe that their activity will decrease in the coming months.” In fact, “three out of four self-employed workers are not optimistic and have a negative (45.6%) or very negative (28.7%) perception…

In Spain 21st April 2025

Airport traffic in Spain rises 4% in March to almost 24 million passengers, and up 5% year-to-date

Intermoney | Aena (Buy, PO 215 ) announced yesterday with the market open the passenger and freight traffic to March 2025. Figures in Spain showed an increase of 4% last month to just under 24 million passengers, of which almost 10 million were distributed between Barajas and El Prat, which increased their figures by just under 3%. Among the other major airports, Malaga (8%) and Alicante (16%) stood out. So…

European economy 21st April 2025

German investor confidence plummets after ‘Liberation Day’ to -14 points in April, from 51.6 previously

CdM | German investor confidence has worsened significantly in April as a result of “erratic changes” in US trade policy, according to the Leibniz Centre for European Economic Research (ZEW), reports Europa Press this morning. Specifically, the German investor confidence figure stood at -14 points in April, compared to 51.6 in the previous month, which is the worst reading of the index since July 2023, after suffering the biggest monthly…

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