The international organisation maintained its forecasts for Spanish GDP growth (3.1% in 2015) but cut its global growth estimate to 3.1%, the worst performance since the start of the financial crisis six years ago.
Fernando Barciela | The IMF and other international organisations including the OECD are very worried these days that the global economy will only grow 3.3% or less this year. On the other hand, they are very happy about Spain achieving the same level. Why? What makes the diference?
Electricity consumption by large and medium-sized companies grew by 2.5% in August from a year earlier.
Confusing costs with revenues, or assets with liabilities, is lethal if you are analysing the situation of the banks. It now appears that, according to some so-called experts, the ECB and its low interest rate policy is to blame for the weakness and lack of profitability amongst Spanish banks.
Spain’s annual GDP growth accelerates to 3.1% thanks to consumption uptick.
Renta 4 | Spain’s big banks H2 results expected to be weaker.
MADRID | Global GDP showed a moderate growth recovery in the second quarter. In Spain, forecasts point to GDP growth accelerating again to 1% Q0Q, one of the highest rates in the eurozone.
Spain’s top five banks posted a combined net profit of 7.989 billion euros in the first half of 2015, up 48 percent from a year earlier, thanks to the improving economic situation and a decline in bad loans provisions.
Spain’s public deficit ranks as the highest one in the eurozone, with the exception of Cyprus. Up to now, a set of exceptional circumstances has allowed for a stance of benign neglect at visible cost. But dangers loom ahead if fiscal rectitude is not firmly enforced.
The Corner | July 27, 2015 | Spain’s bailed-out lender Bankia saw its first-half profit rose 11.5 percent from a year ago, as it reported on Monday. Net profit rose 10.3 per cent to €311m, versus a consensus of analysts’ expectations of €277.8m. Charges against bad debts fell and offset weaker revenue from lending.