Spain’s industrial sector slowed in October as a result of a sharp rise in production costs and a slump in demand across the Old Continent, where figures “clearly indicate that the manufacturing economy is in recession”. Spain’s Purchasing Managers’ Index fell by 4.3 points to 44.7 in October, both the worst figure among the major European countries and the biggest decline of all. And the worst figure since the coronavirus…
Industrial prices rose by 6.6% last March compared to the previous month and soared 46.6% year-on-year, 5.5 points higher than in February and record growth in 46 years, as reported Monday by the National Statistics Institute (INE) and collected by Europa Press. With the year-on-year increase in March, the highest since the beginning of the series in January 1976, industrial prices chain 15 consecutive months of year-on-year increases and again…
Business associations representing industry operating in Spain have joined forces for the first time to call on the government to intervene urgently to change the electricity market rules and end the sharp rise in prices due to the conflict in Ukraine. The associations are calling on the government to adopt an urgent decision in the Council of Ministers to reform the marginal electricity market for the duration of the conflict,…
It would be important to undertake and construct a State pact for industry, from which a Law on Industry would emerge, as stated in the report on “Industry in Spain: Proposals for its Development,” that was recently presented by the Spanish Economic and Social Council, a consultative body of the Government. From a conceptual point of view, the field of study of the report has been limited to the manufacturing industry. This represents most of the industrial activity in Spain, with four fifths of the output and 90 % of the employment in the National Accounts.
After 80 years in existence, Spanish chemical group Sniace has agreed to seek liquidation with the courts for itself and its subsidiaries Celltech and Viscocel, given the impossibility of meeting the payments stipulated in its creditors’ agreement.
Spain ended 2017 with 611.146 more people in a job, a notable improvement on the results of the previous four years. The number of people signed on with the Social Security rose 3.4% to 18.460.201 from a year earlier.
Board member at Iberdrola and Tubacex, Manuel Moreu Munaiz believes relocation has increased unfair competitition in industry in Spain.
“We are in a situation where retired people’s pensions are bigger than the salaries paid to the people working in the jobs they left. Something has broken down. All the education and infrastructures we have created should be directed towards a society with decent salaries,” says Alejandro Legarda Zaragüeta, who knows the ins and outs of Spanish industry after 20 years as managing director of CAF.
The latest figures have again confirmed what we have been seeing in the last few quarters: Spain is not only not losing industry at the moment, but in fact this is recovering very fast. In January, for example, Spanish industry’s revenues rose 13.1% from a year earlier, the biggest increase since April 2008.
“…One of the reasons for the high level of youth unemployment in Spain has to do with the fact that companies hardly get involved in the dual training system,” explains Hermann Simon the chairman of Simon-Kucher, the preferred consultancy firm of the “hidden champions,” those German mid-cap companies which compete globally. “Spain’s level of innovation is very weak…the whole country cannot live just off tourism services.”