gross domestic product
March 20th, 2013
The Spanish Government’s entire public administration debt increased by 20.1% in 2012 compared to the previous year, and amounted to 884,416 million euros, which is equivalent to 84.1% of the gross domestic product (GDP), and the highest level of the entire historical series. In 2011, this figure was 736,468 million ...
Continue reading Spanish Government Debt Hit a Record 84.1% of GDP in 2012
March 8th, 2013
The statistical office of the European Union (Eurostat) confirmed this week that the eurozone economy contracted by 0.6% in the fourth quarter of 2012, compared with the previous three months. Year-on-year, the gross domestic product (GDP) fell by 0.9%, which is in line with the first estimate and forecasts of the ...
Continue reading Eurozone GDP Fell 0.6% in Fourth Quarter of 2012
January 15th, 2013
The sharp decline experienced in housing prices since early 2008, estimated by experts to be more than 30% on average, has not prevented the value of homes being much higher today than in 2001. According to an analysis by the independent value experts, Euroval, from the official Ministry of Development ...
Continue reading Houses Worth 66% More Than in 2001
December 21st, 2012
Even in the midst of the current crisis, Spanish tourism has continued to exercise its role as a reliable economic engine. The weight of the sector's activity in Spain, measured by means of final tourist demand, stood at 10.8% of the Gross Domestic Product (GDP) in 2011, which is four ...
Continue reading Spanish Tourism Sector Continues to Grow
November 19th, 2012
According to data released on Thursday by the European Union Statistical Office, Eurostat, the Gross Domestic Product (GDP) in the eurozone fell 0.1% in the third quarter of the year compared to the previous three months, when the fall was 0.2%. Spain shrank by 0.3% in the third quarter due ...
Continue reading Eurozone GDP Shrinks 0.1% in Q3 and into Recession
August 20th, 2012
Spain has enormous potential for job creation within its "green economy", which could generate two million jobs in the next decade if appropriate policies are adopted, said the International Labour Organisation (ILO) in a report. Entitled "Green Jobs for Sustainable Development - The case of Spain," the report says that renewable ...
Continue reading Spain’s Green Economy Could Create Two Million Jobs by 2020
May 10th, 2012
The Research Department of the BBVA (BBVA Research) has downgraded its unemployment forecast for Spain, and now expects the rate to reach 24.6% this year and climb to 24.8% in 2013, according to the latest update of its magazine 'Situación España'. These forecasts are worse than those raised previously (24.4% and ...
Continue reading BBVA Estimates Unemployment Will Touch 25% in 2013
April 2nd, 2012
The Spanish economy fell again in the first quarter and job losses intensified, according to the Bank of Spain’s Economic Bulletin for March. Private consumption and indicators that measure the confidence of consumers and retailers in January and February fell to 2010 levels. The watchdog does not give specific figures but ...
Continue reading Spain Technically in Recession, says Bank of Spain
March 27th, 2012
The European Commission (EC) said on Monday they are "convinced" that Spain will meet its deficit reduction target (5.3% of GDP this year and 3% in 2013) and adopt the economic reforms necessary to achieve it. The Spanish Government is due to present its budget this Friday. “The European Commission is ...
Continue reading European Commission Optimistic Over Spain
March 16th, 2012
The international consulting firm Ernst & Young has forecast a recession for Spain until 2014 after evaluating all the measures taken by the Government of Mariano Rajoy up until now. According to an official statement in the latest Ernst & Young Eurozone Forecast indicator (EEF), which corresponds to spring, "the ...
Continue reading Ernst & Young Fears ‘Social Instability’ May Hinder Rajoy’s Reforms
March 9th, 2012
The credit rating agency, Standard & Poor's, believes that the European macroeconomic crisis will not extend beyond 2012, which will result in a "significant recovery" of European real estate markets in 2013. "Standard & Poor's Ratings Services believes that the macroeconomic crisis may not extend beyond 2012. We still expect a ...
Continue reading S & P Predicts End to Economic Crisis in Europe in 2012
February 7th, 2012
Spain's public debt remained unchanged at 66.0% of gross domestic product (GDP), equivalent to 706,340 million euros, according to eurozone data for the third quarter of 2011 released yesterday by Eurostat, the European Union statistics office. The eurozone debt declined by three-tenths in the third quarter of 2011 to 87.4% of ...
Continue reading Spain’s Public Debt Stable at 66% of GDP
January 27th, 2012
According to the Institution’s updated 'Fiscal Monitor' report, the International Monetary Fund (IMF) has drastically worsened its deficit forecast for Spain in 2012 and 2013 to 6.8% and 6.3% respectively, figures which double the 3% deficit target the Spanish economy must achieve in the next year. The organisation, chaired by ...
Continue reading The IMF Forecasts Spain’s Deficit at 6.8% this Year
December 20th, 2011
The crisis that began in the second half of 2007 is still continuing. The consultancy firm Ernst & Young's report on Spain’s prospects for the coming years is based on the slowdown in the economy since the first quarter of this year, and which they warn is not likely to ...
Continue reading Ernst & Young: “Spanish Recovery Likely in Second Half of Next Year”
December 16th, 2011
The per capita wealth of the Spanish fell again in 2010 as a result of the economic crisis but is at the same level as the EU average, according to data released on Tuesday by the EU statistics office, Eurostat. The gross domestic product (GDP) per capita in Spain fell from ...
Continue reading Spanish Income Per Capita is the EU average
