Spanish Business News

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Eurozone consumer confidence falls for sixth month
30 August 2011 @ 13:21

Business and consumer optimism in the 17 countries that use the euro fell in August, reinforcing fears that the region's economy will slow in the months ahead as political leaders struggle to contain a crisis over government debt.

The European Union's economic sentiment index issued Tuesday fell 4.7 points to 98.3 - the sixth consecutive decline, bringing the indicator below its long-term average of 100.

Germany, the eurozone's biggest economy, reported the largest drop, and it alone remains above the 1990-2011 average. The Netherlands was also saw a significant fall while Italy's slid somewhat less.

The reasons for the decline included gloomier views of the future among retailers, and among consumers afraid of losing their jobs, EU economic officials said in a statement accompanying the index numbers.

Read the full article on Yahoo/The Telegraph

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1 Comments

TheWoodbug said:
30 August 2011 @ 19:04

Silly thing is - the Euro, according to all those clever chaps in the finance world is on the brink of extinction - so why is the Sterling exchange rate so poor, and rarely changes in our favour?

Would you have thought that Spain had a problem though? During August it was closed and now we are revving up for the old Moors and Christians shootout for of couple of weeks - so no business is done then either. Spains business window in respect of UK and the rest of Europe is about 4 hours a day as Siesta is a major part of the days proceedings. What is the point of going back to work in commerce at 17.00 hrs when the rest of Europe has done an 8 hour day and then shut up shop and gone home.

I was in town the other day at 15.30 and everywhere was closed except - believe it or not a building site! How come all the air-conditioned office and shop staff nip off home for a kip and the poor lads that the Siesta was designed for, carry on working?

Now before 'outraged of Andalucia' responds to lecture me on Spanish culture and respect, this is is no way a criticism of anything Spanish, it is simply an observation on certain issues that confuse me and I would welcome any rational response.