Spanish economy

No Picture

Car sales in Spain boost European sector

MADRID, February 19, 2015 | The Corner | Vehicle registrations in January 2015 totaled 999,157 units in Europe, representing a rise of 6.7%. The figures point to a strengthening of the recovery in the automotive sector, with growth now recorded for seven consecutive months. The figures were buoyed by particularly strong performances in Spain and Italy, each of which posted double digit increases.




No Picture

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.




No Picture

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.


No Picture

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.


No Picture

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.

 


No Picture

Spanish banks meet ECB’s capital ratios

MADRID | The Corner | Financial entities need to submit allegations on the European Central Bank’s solvency ratios recommendations next week. As expected, due to their systemic nature the ECB is asking the biggest lenders (Santander and BBVA) a 9.0% ratio versus the 8.0% required for their smaller peers such as Caixabank, Bankia and Sabadell.