• Foreign Spending on Spanish Property Up 27%

    Foreigners invested 4,748 million euros in real estate in Spain in 2011, which is up 27% from the previous year and represents the largest expenditure made by this group since 2008, while Spanish investment abroad fell 23.4%. According to the …

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  • Household Debt Falls to Lowest Level Since Start of Crisis

    The accumulated debt of Spanish households amounted to 859,538 million euros in March, representing a reduction of 3.19% over the same month of 2011 and the lowest level since the beginning of the crisis. According to provisional Bank of Spain …

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  • Spanish house prices continue their decline in April

    TINSA has a new Spanish house price report available today. The accompanying press release summarises their findings: The IMIE General index declined by 12.5% in April, pushing the index down to 1603 points. The cumulative decline in house prices from …

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  • Spanish Government Approves Stability and Reforms Programmes

    The Council of Ministers approved, for submission to the European Union and to the European Commission, the National Programme of Reforms for Spain 2012 and the Stability Programme for Spain 2012-2015. The Vice-President of the Government, Soraya Sáenz de Santamaría, …

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  • Easter Causes Reduction in Unemployment in April

    According to the Ministry of Employment and Social Security, the number of unemployed registered at the offices of the public employment service (formerly INEM) stood at 4.74 million people at the end of April, after dropping by 6,632 unemployed in …

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  • 2.8% of Spanish Plan to Purchase a Property in 2013

    According to the consumer confidence index, 2.8% of those surveyed by the Centre for Sociological Research (CIS) intends to buy a house in 2013. Consumer confidence plummeted 13.4 points in April over the previous month, one of the worst data …

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  • EU-27 Still to Agree Over Strengthening Banks’ Capital

    After 16 hours of negotiations this week, the finance ministers of the EU-27 have failed in their attempt to reach agreement on the new EU law which aims to strengthen banks’ capital and increase their resilience to future crises. The …

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  • Foreign Tourists Spend 9.01 Billion Euros in First Quarter of 2012

    According to the Tourist Expenditure Survey (EGATUR) drafted by the Institute for Tourism Studies of the Ministry of Industry, Energy and Tourism, inbound tourists to Spain spent a total of 9.01 billion euros in the first quarter of 2012, which …

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  • SMEs in Spain, Belgium and Italy Have Worst Access to Credit

    Between October 2011 and March 2012, SMEs in Spain, Belgium and Italy had less access to credit compared with the previous six months, due to their unfavourable general economic environment. This is the conclusion of the sixth access to finance …

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  • Standard & Poor’s Cuts ‘Rating’ of 11 Spanish Financial Institutions

    The rating agency, Standard & Poor’s, has lowered the credit ratings of 11 Spanish banks a week after cutting Spain’s ‘rating’ by two notches. The agency has been monitoring the ratings of 16 Spanish banks in total, the analysis of …

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  • Spain to Open 64 New Shopping Centres in Three Years

    Although consumption is still falling in Spain, for the first time since the crisis began, investment in commercial centres is growing again. According to data and projections by consultancy firm Jones Lang Lasalle, over the next three years a total …

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  • Merkel Announces ‘Growth Agenda’ for the EU

    German Chancellor Angela Merkel announced at the weekend, the drafting of a “growth agenda” for the European Union, which should be ready for the Summit of the EU Heads of State and Government in June. In remarks published on Saturday …

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  • Unemployment Reaches 5.6 Million in First Quarter

    Unemployment rose by 365,900 people in the first quarter of 2012 over the previous quarter, which represented a 6.9% increase, and brought the total number of unemployed to 5,639,500, a figure until now unheard of for the Spanish economy. The …

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  • Inflation Rises One-Tenth Year-on-Year in April to 2%

    Annual inflation rose one-tenth in April, putting its rate at 2%, according to the flash estimate of the Consumer Price Index (CPI), after six consecutive months of declines. According to data published on Friday by the National Statistics Institute, the …

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