• 33% of Under 34 Year Olds Unemployed

    The unemployment rate of under 34 year olds has tripled since the crisis began, rising from 10.8% in the third quarter of 2007 to 33% in the first quarter of this year. This means that currently one-in-three young people under …

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  • Inflation Down Due to Cheaper Food and Fuel

    According to the leading indicator on the evolution of prices in Spain, published on Wednesday by the National Statistics Institute, the Consumer Price Index cut its year-on-year rate by two-tenths in May to 1.9%. This drop in prices in the …

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  • Bank of Spain Expects Economic Decline to Continue in Q2

    In its May economic bulletin, the Bank of Spain notes that they expect the Spanish economy to continue in recession in the second quarter. The watchdog said that, although the available indicators are still low, the activity in Spain will …

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  • Tourists Spend Over 13 Billion Euros Between January and April 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 just over 13 billion euros in the period from January …

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  • Renfe to Introduce Smartphone Train ‘Tickets’ this Summer

    The railway network company, Renfe, are looking at providing access and travel on AVE and middle distance trains via tickets carried on smartphone devices from this summer, according to company sources. When introduced, users of smartphones will be able to …

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  • Mortgage Sucks 39% of Spanish Family Income

    According to a recent real estate analysis carried out by Deloitte, Spanish households spend 39.4% of their income on mortgage payments, despite the fall in house prices in recent years. A fact that explains why the ‘stock’ of unsold new …

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  • Homes Sales up 21.9% Over Last Quarter of 2011

    According to statistics from the College of Property Registrars released on Friday, home sales fell by 26% in the first three months of the year, over the same period last year, but increased by 21.9% over the last quarter of …

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  • A Bold Leap Towards Political Integration Needed, Says Draghi

    The President of the European Central Bank (ECB), Mario Draghi, believes that Europe needs to take a leap towards greater political integration in order to convince investors about the future of the monetary union. El Economista reported that during his …

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  • Number of Mortgages Down 42% Year-on-Year

    According to figures released yesterday by the National Statistics Institute, the number of mortgages granted on homes in March this year totalled 24,918, marking one of the lowest figures in the series, with a drop of 42% over the same …

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  • Hotel Occupancy Down in April Despite Easter

    According to the latest data from the National Statistics Institute, Spanish hotels only had a 49.9% occupancy rate in April, which was 5.6% less than the same period of 2011, and despite the fact that this year Easter was celebrated …

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  • 2012 Will Be “Last of Crisis” for Spain, Says García-Legaz

    The Spanish Secretary of State for Trade, Jaime García-Legaz, said yesterday that there is “light at the end of the tunnel” and that 2012 will be “the last year of crisis” in Spain. He also said that if the Government …

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  • Ryanair Profits Up Due to “Less Competition” in the Sector

    Ryanair reported a net profit of 503 million euros for its latest fiscal year ended 31st March, which represented a 25% increase over the previous year, “despite high oil prices and the global recession” and “thanks to less competition,” the …

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  • Government Has No Plans to Increase VAT in Tourism Sector

    At a luncheon organized by KPMG and Europa Press, the Spanish Minister of Industry, Energy and Tourism, José Manuel Soria, said that “there is no provision” on the table of the Government for a VAT increase for the tourism sector …

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  • Spanish Working Longer Hours Due to Crisis

    According to the Global Index on reconciling work and family life, prepared by the supplier of flexible work spaces, Regus, nearly two out of three Spanish are now working longer hours than in 2010 because of the economic recession, and …

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  • Eurozone Construction Activity Up 12.4%

    The eurozone construction sector recorded an increase in activity in March of 12.4% over the previous month, when it had fallen by 10.4%, while year-on-year the decline was 3.8%, according to data published on Monday by the European statistics office, …

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