Spain's business creation rises by 1.5 pct in October

 

The creation of new businesses in Spain rose by 1.5% in October when compared with the same month of year earlier, according to data published on Tuesday by Spain's Statistical Office (INE).

The INE reported that a total of 7,236 new companies were created in the tenth month of the year, which used a subscribed capital of EU432 Mln - 39.9% less than in the same month of a year earlier.

A total of 21.5% of the companies created in October belonged to the trade sector and 14.5% belonged to the construction sector.

A total of 1,507 companies were dissolved in October, which meant a 2.3% fall year-on-year.

On a month-to-month basis, business creation rose by 17.6%, while the number of companies dissolved fell by 36.1%, the INE said.

Among regions, center region Madrid, southern Andalusia and Northeastern region Catalonia registered the highest number of new businesses in October. A total of 1,709 new businesses were seen in Madrid, Andalusia saw 1,260 new companies and Catalonia 1,224 new businesses.

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