MADRID | By José S. Mendoza at Capitalmadrid | Spain retailers sales rate fell by 2% last July compared to year ago. It’s already been 37 months – plus 3 years – of consecutive annual declines for them, according to data from the National Institute of Statistics. The Federation of autonomous workers ATA warns that the retail sector is experiencing a really difficult situation, with a constant and continuous fall of sales and job losses.
MADRID | By The Corner Team | Madrid is ruling out further money injections for its battered nationalised banks, Economy minister said on a live interview on Tuesday. He also showed optimism about the last employment rate, which went down in August for the first time in 13 years. His critics insist that this good figures are only due to summer jobs, temporary and precarious.
MADRID | By Francisco López via Consenso del Mercado | Relief in Spain after good second-quarter GDP data (- 0.1%) and August inflation (1.5%). Exports, investment in capital goods and domestic demand have performed better than expected, experts say.
MADRID | Equity business in Spain seems to be stabilizing, according to Bankia analysts. Spanish stock exchanges and financial markets (BME) equity increased by 7.9% last August to EUR36.3 million.
LONDON | By The Conference Board | The recent behaviour of the composite indexes suggests that the current contraction in the Spanish economy will continue easing in the near term.
MADRID | The Autonomous Communities with the greatest number of mercantile companies created were Comunidad de Madrid (1,679) and Catalonia (1,322).
MADRID | By Ana Fuentes | Under a strong pressure after the scandal of illegal donations to the Popular Party, Spanish PM Mariano Rajoy will try to spend his summer holidays away from the public eye. Even if the economy is doing better and the Bank of Spain sees the end of the recession coming, citizens are austerity-wary and the political tension has not been eased at all.
MADRID | By Carlos Díaz Güell | After years of heavy investment (in 2007 it reached 112 bn euros), Spanish companies abroad are reducing their debt by selling their assets. Time for deleverage in order to cope with the crisis.
MADRID | By Julia Pastor | Spain’s current account deficit dropped by 76.5% between January and April of 2013 compared to previous year’s last four months. The Spanish economy could close the present year with a long expected surplus as well as some 0.9% financing capacity per GDP.
Highly educated, they used to have steady jobs and decent wages… until now. The so-called ‘insiders’ are the new victims of Spain’s unemployment drama, which affects more than 27% of the population. Prospects for 2013 are gloomy, since credit is not flowing, SMEs are choking and consumption remains paralyzed. Have the labor reform and all sacrifices been worth it?