How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- USD weekly currency update - 17 April 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Spain 'may have already entered recession'
Spain's National Institute of Statistics (INE) have published statistics earlier today, depicting a worrying state of the economy of the country.
Increasing levels of unemployment, which are teetering around 21.5% with little signs of improving in the near future, together with an industrial output, which was shown to have fallen 7% year-on-year in November, are compounded by the economy as whole shrinking in the previous quarter.
The prediction for the first quarter of 2012 is also expected to contract, and with the Economy as a whole shrinking by 0.8% over 2011, analysts have concerns that the country may have already entered a recession.
This echoes a statement made before Parliament by Spain's Minister of Finance, Cristobal Montoro, yesterday : "The economy has stalled, it is on the edge of a recession,” he told the house.
November's figures were the worst in more than 2 years, when industrial output plummeted to 7.0%, following a 4.2% fall in October.
Latest News & Stories
- Spanish Mortgage lending expected to boost house prices in 2015
- Spain says 2014 public deficit was 5.69% of GDP
- Spain's opposition leader backs anti-abortion law by accident
- Spain investigates sinking of fuel-laden ship off Canary Islands
- Gibraltar would seek to preserve EU ties if Britain voted to leave
- Spanish hourly wages fall further from euro-zone average
- Spain Proposes to Set Up International Terrorism Court
- IMF ups 2015 growth forecast to 2.5%
- Spain urges more cooperation to handle attacks, migration
- Movistar Spain to start charging for excess data
- Claiming Unemployment Benefits in Spain
- Employee rights & working conditions in Spain
- When you can’t pay the Mortgage