Collection: Other Publications

Quarterly Report Q3-2017 Circulo de Empresarios from Círculo de Empresarios

SPAIN Tourist movements (Frontur) Spain registered 57.3 million tourists in the first eight months of 2017 (9.9% more than in the same period of 2016). By country, the main countries of origin were the United Kingdom (13 million), France (8.4 million) and Germany (8.2 million). Labour (Ministry of Employment) September ended with 27,858 more unemployed … Continued

Business demography Structural business statistics According to the Central Business Directory (DIRCE) in 2016 and for the third consecutive year, the number of active companies increased by 1.4%, reaching 3.282.346. Reduced business size By number of employees, 55.5% of all Spanish companies had no employees and 27.2% had just one or two employees. Altogether, in … Continued

Así esta the economy September 2017 Círculo de Empresarios from Círculo de Empresarios

Quarterly report on the global and Spanish economy Q2-2017 Circulo de Empresarios from Círculo de Empresarios

Asi estát he economy july 2017 Circulo de Empresarios de Círculo de Empresarios

Investment (Bank of Spain) Productive private investment in Spain has had a key role in our economic recovery, contributing to more than 20% of GDP growth between 2014 and 2016. By components, the greatest investment was in capital goods and transport material. This investment dynamism was greater than that in the Eurozone, and has been … Continued

Así está the economy jun 2017 Círculo de Empresarios from Círculo de Empresarios

M&A Spain During the first quarter of 2017, there were 524 mergers and acquisitions for a total of 23.681 billion euros, some 48% greater in year-on-year terms. This is partly due to more high market operations worth more than 500 million euros. By sectors, the real state attracted the the highest number of operations with 124, … Continued

SPAIN Advanced GDP 1Q 2017 (INE)) In the 1Q of 2017 the GDP grew by 0.8% quarter-on-quarter and 3% year-on-year. Employment April 2017 (Ministry of Employment and Social Security) In April the average affiliation to Social Security grew 1.18% to reach 18,122,222 employed persons. In year-on-year terms, there were 658,387 more affiliates (+3.77%), the best … Continued

Quarterly report. Global and Spanish economy Q1-2017- Circulo de Empresarios de Círculo de Empresarios

SPAIN National Accounts 4Q 2016 (INE) In 2016 the Spanish economy grew 3.2% year-on-year, reaching a nominal GDP of 1.113trillion euros. In the 4Q, the GDP increased 0.7% quarter-on-quarter and 3% year-on-year (vs. 3.2% in the 3Q of 2016). The contribution of domestic demand to annual GDP growth in the 4Q was 2.2 points, three … Continued

Financing sources Between 2010 and 2015, the non-financial companies on the IBEX 35 reduced their debts with credit institutions by 39.8%, from 138 billion euros to 83 billion euros. In terms of balance sheet structure, bank financing (% financial liabilities) for these companies went from 53 to 36.5%. Likewise, fixed income financing (corporate debt) increased … Continued

SPAIN Employment January 2017 (Ministry of Employment and Social Security) Registered unemployment rose by 57,257 persons from December to reach 3,760,231, one of the lowest levels of the past seven years. In year-on-year terms, the number of people without work dropped by 390,524 (down 9.41%), the largest decline since 1999. In December there were 1,633,592 … Continued

Risk Capital in Spain 2016 balance After six months of political uncertainty, investment activity was more vigorous in the second half of 2016, something explained in part by seven large operations that accounted for 47% of the year’s total investments. According to the initial estimates by Ascri, risk capital in Spain finished 2016 with total … Continued

SPAIN Employment December 2016 (Ministry of Employment and Social Security) Registered unemployment was reduced by 86,849 persons with respect to November, for a total of 3,702,974 unemployed persons, one of the lowest levels of the past seven years. In year-on-year terms, it dropped by 390,534 (-9.54%), the greatest drop since 1999 and a descent of … Continued

Spanish banking sector Profits During the first quarter of 2016, amidst low interest rates, the consolidated results of Spanish credit institutions dropped 23.6%. By contrast, the improvement in economic activity has made it possible to continue to lower the volume of troubled assets (down 40% since December of 2013). At the same time, according to … Continued

SPAIN Article IV consultation on Spain (IMF) The IMF considers that the recovery of the Spanish economy is solid and that its imbalances are being reduced. As a result the IMF has revised upwards its predictions for growth for 2016 and 2017 (3.2% and 2.3%, respectively). At the same time, it says there are some … Continued

SPAIN Growth After Ireland, Spain is the OECD country whose economy is growing the most. Domestic and international predictions calculate this growth at 3.2% in 2016 and at around 2.4% in 2017 (Eurostat and FUNCAS). Labour market, October 2016 (Ministry of Employment) Unemployment is at its lowest levels in the past seven years. It is now … Continued

In this new installment of our quarterly report you will find the following information: Global GDP forecasts Risks and uncertainties in the growth of the world economy Developments in emerging countries As the US economy evolves And China What happened in the European economy after the announcement of Brexit As it is evolving economy and … Continued

Payment performance Average payment time (INFORMA) In the 2Q of 2016 the average payment period continued to drop, reaching 91.48 days, its lowest level since the 2Q of 2014, and 3.37 days lower in year-on year terms. For its part, the proportion of punctual payments by companies (47.52%) increased 4 percentage points in comparison with the same quarter of the previous year. … Continued

Foreign companies in Spain According to the most recent report Foreign Multinationals in Spain, in 2013 the number of foreign affiliates was 10,722 (34.4% of Spanish large-sized companies). Taxes A Spanish worker dedicates an average of 180 days of salary each year to pay direct and indirect taxes, principally through Social Security contributions*(102 days) and … Continued