spanisheconomy
The Spanish unemployment report for the first quarter (Q1) of 2024 was released on Friday morning and showed that unemployment in the country rose to 12.29% from 11.80% in Q1 2023, according to the National Statistics Institute (INE). This was also more than analyst forecasts of 11.80%. This higher figure comes as Spain continues to struggle with a significant number of its employment contracts being temporary, due to its massive tourism and hospitality sector, as well as chronically low productivity. Market measures supporting job stability in SpainAlthough an increase from the previous quart...
Euronews (English)
According to final data released on Tuesday by the National Statistics Institute (INE), Spain's fourth-quarter economic output grew 2.0% compared with the same quarter a year ago, while annual growth was 1.9% in the third quarter. The latest data from INE confirms a preliminary report released in January. "We'd previously seen signs that growth was picking up as several soft indicators (such as business sentiment) improved toward the end of 2023 – but this growth far exceeds expectations. GDP came in much higher than market expectations of 0.2% QoQ," analysts at ING noted after the preliminary...
Euronews (English)
Spain's stock market, tracked by the IBEX 35 Index, climbed 5% in the first two weeks of March, showcasing a 20% increase from a year ago. The rally was propelled by standout performances from leading corporations and the vibrant health of Spain's economy. Spanish corporates enjoy strong momentumA significant driver of this recent upswing is Inditex, the conglomerate behind iconic fashion brands such as Zara, Massimo Dutti, Bershka, and Pull&Bear, which constitutes 14% of the IBEX 35. The fashion titan reported a historic net profit of €5.4 billion for the fiscal year 2023, marking a 30.3% inc...
Euronews (English)
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