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Spanish economy

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Spanish economy 10th August 2016

Spain’s banks no longer main players in property market

F.Barciela /F. G. Ljubetic | If the banks are still the protagonists in terms of granting mortgages to private individuals, another thing is new developments where their role is decreasing. Burned by what happened in the past, the banks are looking very closely, and selectively, at each new development proposal. This has meant that in the last few years alternative financing formulas have emerged which property developers are using to push ahead with their projects.

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Spanish economy 5th August 2016

Spanish banks’ exposure to bricks and mortar is still worrying

Spain’s banks currently have on their books something close to 213 billion euros in property risks (assets and loans). Is that a lot or not? Judging by the recent reports from the Bank of Spain or Moody’s, the total is rather worrying: and we are not talking about small change but about the fact that our lenders still have an amount of property on their balance sheets equivalent to 20% of GDP.

Innovation is still missing in Spain

Spanish economy 3rd August 2016

Innovation still in free-fall in Spain

A recent European Commission report on innovation indicators highlights that Spain is the third country, along with Lithuania, which has fallen behind the most in matters of innovation – after Romania and Hungary. Since the start of the crisis in 2008, Spain has lost an average of 0.8% annually in R&D output.

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Spanish economy 2nd August 2016

Spain July unemployed falls to lowest level since August 2009

It’s good news for Spain’s economic recovery. The number of unemployed people registered with Spain’s public employment services dropped by 83,993, or 2.2%, in July from June to 3.683.061 million, the lowest level since August 2009. It was also the biggest fall in the month of July since 1997.

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Spanish economy 29th July 2016

The Risks For The Spanish Economy In 2017 Begin To Take Shape

Spain’s GDP growth rate in the first half of this year has been solid. In the second quarter, GDP expanded 0.7% quarter-on-quarter nearly in line with the 0.8% rise in the first quarter, translating into a 3.2% year-on-year increase. So overall, the balance for the first half of 2016 has been favourable. And the strong performance over this period means that it is very likely GDP growth will be close to 3% for the full-year. But there are downward risks for 2017.

 

 

ECB resource

Spanish economy 28th July 2016

European Government Bonds: A Sense Of Pragmatism

Julius Baer Research | We share the view of Mario Draghi, President of the European Central Bank, that his ultra-accommodative monetary policy stance alone cannot push the eurozone economy out of its current weakness but needs to be complemented with fiscal impulses.

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Spanish economy 28th July 2016

Spanish jobless rate drops to a still painful 20%

Summer’s here and so are seasonal contracts. The latest employment survey showed the jobless rate in Spain went down to 20% in Q2, its lowest level since the summer of 2010. And yet employment is still a heavy burden for Spaniards, Greece being the only EU country with a higher rate.