Articles tagged as: recession

January 1st, 2014

Foreign investors injected 45,003.6 million euros into Spain in the first ten months of the year, according to the balance of payments data published on Friday by the Bank of Spain. The data once again shows that foreign investors remain confident in the Spanish economy, which left the recession during the ...

Continue reading Foreigners Invested Over 45 Billion Euros in Spanish Economy to October

December 17th, 2013

According to a survey on seasonal purchasing intentions, carried out by Opinea, 80% of the Spanish believe that this Christmas they will spend the same or even slightly less on gifts than last year. 43% plan to spend the same as last year, 27% of those surveyed indicated their intent ...

Continue reading 19% of Spanish Plan to Spend More this Christmas

December 13th, 2013

Despite the bursting of the housing bubble, with mortgage lending and property sales sitting at their lowest recorded levels, the Balearic Islands appear to have escaped the economic crisis, registering a marked increase in tourism and housing purchases in these recent years of recession. Data from the General Council of Notaries ...

Continue reading Balearic Islands Record Surge in Foreign Home Buyers

November 14th, 2013

Despite the lengthy recession Spain has lived through in recent years, the number of multimillionaires - those who have at their disposal at least 25 million euros in cash - grew by 7% last year, reaching a total of 1,625. According to the World Ultra Wealth Report 2013 prepared in ...

Continue reading Number of Multimillionaires in Spain has Grown by 7%

November 11th, 2013

The credit rating agency, Standard & Poor's, believes that house prices in Spain will continue to fall until at least 2015, as they believe that the excess of unsold homes in the country will keep the property market "in the doldrums". "The fall in house prices in Spain will continue ...

Continue reading House Prices Will Fall Until 2015, Says S & P

November 4th, 2013

Officially, the Spanish economy is not in recession. On Wednesday the National Statistics Institute published the flash estimate of gross domestic product (GDP) figures for the third quarter of 2013, and confirmed what the Bank of Spain had already announced: that the GDP increased by 0.1% between June and September, ...

Continue reading Spain Out of Recession as GDP Grows by 0.1%

September 25th, 2013

According to their quarterly report on the economy of the eurozone, the credit rating agency, Standard & Poor's (S & P), predicts that the Spanish economy will grow by 0.5% in 2014, one tenth less than their July estimate, and that unemployment will continue to increase up to a maximum ...

Continue reading S & P Predicts Spain Will Grow by 0.5% in 2014

September 19th, 2013

According to the president of the European Central Bank (ECB), Mario Draghi, the fragility of the eurozone economy persists despite the signs of improvement experienced in various fields and the end of the recession in the second quarter. At a ceremony held in Berlin earlier this week Draghi said: "The recovery ...

Continue reading Draghi: Eurozone Economy Remains ‘Fragile’

September 10th, 2013

Spain’s Minister of Economy and Competitiveness, Luis de Guindos, believes that the emerging economic improvement in Spain shows "the quality of the policies" of austerity applied in the eurozone. El Mundo reported that, in a recent interview with the Financial Times newspaper, De Guindos said: "We have a lot more confidence ...

Continue reading Spain Poised to Emerge from Recession, Says De Guindos

September 2nd, 2013

The Minister for Employment and Social Security, Fátima Báñez, announced on Thursday that the Government of Spain is working to radically simplify the various work contracts, reducing the 41 different employment contract models that currently exist in Spain to a total of 5, in order to facilitate and incentivise the ...

Continue reading Spanish Government to Simplify Work Contracts

August 9th, 2013

The number of companies going into receivership in Spain due to not being able to meet their payments and debts, amounted to 2,408 during the second quarter of the year, which represented an increase of 15.1% compared with the same period last year. And between January and June a total ...

Continue reading Company Bankruptcies Up 22.5% to June

August 5th, 2013

According to the latest report published by the National Statistics Institute, the Spanish economy has slowed its decline, contracting by only 0.1% in the second quarter, four tenths less than in the first, and fell by 1.7% year-on-year, which is one tenth less than predicted by the Bank of Spain. The ...

Continue reading Spain Accumulates Eight Consecutive Quarters in Recession

July 22nd, 2013

According to projections by the Alliance for Tourism Excellence (Exceltur) in their tourism evaluation for the second quarter, tourist activity in Spain will rebound by 0.2% during the summer and break the negative trend of the past five quarters. In the full year, tourism will drop only 0.4%, which is an ...

Continue reading Exceltur Forecasts Good Summer for Spanish Tourism

July 9th, 2013

After a disappointing start to the year, with declines in February and March, the arrival of foreign tourists returned to positive rates in April and grew with surprising force in May. In June, 5.8 million tourists visited the main Spanish destinations, which is up 7.4% over the previous year and ...

Continue reading Hoteliers Expect a Record Year for Foreign Tourism

June 7th, 2013

Economic activity in the eurozone shrank by 0.2% during the first three months of the year – a more moderate drop than the 0.6% recorded in the previous quarter - and accumulated six consecutive quarters of recession. Year-on-year the decline is 1.1%, according to data published on Wednesday by the ...

Continue reading Eurozone GDP Contracted 0.2% in Q1