Spanish consumer credit showed significant rise in 2014

Spanish consumer spending TC

Lending to consumers in Spain rose by 8.25% in 2014, to a total of €21.713 billon, according to the National Association for Consumer Credit (ASNEF).

It should be noted that financing for the purchase of durable goods such as cars rose by 18% last year, to €6.895 billion. Consumer credit lending rose by 4% to €14.818 billion, a figure that includes spending on consumer goods, credit cards and personal loans.

Moreover, overall delinquencies declined by 3%. In the area of consumer credit, the delinquency ratio was 8.52%, and in the automotive area the rate was 7.7%.

Furthermore, according to figures published Wednesday by the National Institute of Statistics (INE), the producer price index (PPI) rose by 0.2% in February compared to January, while the annual rate fell to 1.6%. Significantly, the PPI was down 2.8% year on year in January. With the release of the February data, the PPI has reversed eight months of declines.

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The Corner
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.

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