Car manufacturing in Spain increased by 12.5% in 4 mths to April
The Corner | May 26, 2015 | Car factories operating in Spain produced nearly one million units in the first four months of 2015, up 12.5% from a year earlier.
Spanish economy
Average cost of Spanish debt down to 1.46% in 2014
The Corner | May 26, 2015 | The improvement of financial markets in 2014 allowed the issuance average cost of the Spanish public Treasury to go down to 1.46%, about 100 basis points below 2013 levels. Spanish premium risk fell by 114 basis points to reach an average of 120 points in December, according to the Bank of Spain. (Chart above: Spain Generic Govt 10Y Yield; Source: Bloomberg)
Spanish elections: A new political map
MADRID | May 25, 2015 | By Fernando G. Urbaneja | The conservative Popular Party has its worst election in two decades, losing a big chunk of power in cities and regions on Sunday. Corruption scandals and high unemployment resulting from the economic crisis severely punished traditional parties, which now need to form coalitions with emerging groups Ciudadanos and Podemos.
Spanish debt yields could save €14 billion in interests in 2015
MADRID | May 21, 2015 | By AFI | The Spanish Treasury issued € 110 billion of debt in gross figures, representing 46% of the total for this year, not so much through cost reduction but via the extension of maturities. In 2015 more than 60% of issuances were 10-year-bonds, while in 2012, at the worst moment of the debt crisis, these maturities only represented 8% of total issuances.
Spanish growth beats expectations at 3.5% in 1S2015
The Corner | May 18, 2015 | Spain’s economy minister Luis de Guindos said the country’s economic growth is likely to be stronger than expected: 3.5% in the first half of the year and more “balanced” thanks to a lower deficit, lower private borrowing and improved external competitiveness and exports.
Volkswagen to make biggest industrial investment in Spain (€4.2bn)
The Corner | May 8, 2015 | German automaker Volkswagen announced its intentions to invest €4.2 billion in its Martorell and Navarra plants in Spain between 2015 and 2019. The amount almost equals what all car manufacturers have invested in the past three years. The VW group employs 22,000 people in Spain through its 12 brands.
Spanish housing sector recovery continues to progress
MADRID | May 8, 2015 | By Félix Lores Juberías and Ignacio San Martín at BBVA Reasearch | Housing sales growth moderated in February while the mortgage market regains dynamism. On the other hand, the upturn in construction activity was mirrored in the land market, with an increase in transaction numbers and a mild rise in the price of urban plots.
Stronger credit lending in Spain… to the public sector
MADRID | May 7, 2015 | By Luis Arroyo | Credit lending to the private sector (households and companies) continued to fall in March, according to the Bank of Spain. So as a matter of fact there is more lending activity in the country, yet the money is going to the public sector.
Spanish PMI: Manufacturing new order growth accelerates
The Corner | May 4, 2015 | For the past 17 months, operating in the Spanish manufacturing sector has been easier (more output and new orders were registered), thanks to an increasing client demand, according to the last PMI data released by Markit, although the firm’s indicator posted 54.2 in April, down fractionally from the reading of 54.3 in March.
How much are Spanish banks worth?
MADRID | April 25, 2015 | By Ofelia Marín-Lozano | The Euro Stoxx 50 banking index traded at 450 points in 2007. It fell to 70 during the crisis and in the last two years has recovered up to 160 points. In parallel, the profit of large listed Spanish banks fell between 2007 and 2012 to levels around a quarter of the previous highs. Since then it has been recovering, although at the end of 2014 it still was at around 50% of 2007 levels.