The Catalan economy contracted by 0.3% between July and September, although its results improved slightly compared to the previous quarter, when it shrunk by 0.5%. The tourism sector continues to grow and internal consumption continues to drop. Compared to a year ago, by the end of September, Catalan GDP has fallen by 1.4%.
The debt of Spanish families has been reduced by 4% compared to July 2011, reaching €848.4 billion by the end of July 2012. 77% of this family debt is related to real estate loans. Private companies passed from a global debt of €863.9 billion in July 2011 to a debt of €804.2 billion a year later.
50.2% of the people travelling between Barcelona and Madrid in the first six months of the year used the High Speed Train (AVE), instead of the car, bus or airplane. 1.4 million people used this AVE line between January and June, a 6.2% increase compared to the same period last year. In addition, the Port of Barcelona had 905,000 passengers in the first half of 2012, making it the first port in Spain in terms of passenger traffic.
The trade union UGT has calculated that 478,969 jobs have been destroyed in Catalonia between the June 2007 and June 2012. Furthermore, the union fears a “layoff avalanche” next autumn in the public sector.
Foreign tourism in Catalonia continues to flourish despite the economic crisis. In July, there have been just over two million foreign tourists to Catalonia, 9% more than in the same month of 2011. In the first seven months of 2012, Catalonia hosted 8.4 million foreign tourists, a figure which represents 25.6% of international tourism to Spain. Catalonia has therefore consolidated its position as the most visited tourist destination in Spain.
The numbers of foreign workers contributing to Social Security in Catalonia reached 400,075 people at the end of July. This figure represents a 2.11% increase compared to a month ago. Seasonal work related to tourism and fruit harvesting caused the number of non-EU workers increase by more than 8,000 people over July.
With 5.13 billion in foreign sales in June, Catalan exports have grown by 6.6% over the same period in 2011. Amongst the Autonomous Communities, Catalonia ranks first for its export economy, in the first six months of this year Catalan companies sold up to €29.1 billion abroad. The increase in foreign exports and the fall in imports have reduced the trade deficit by 31% in the first six months of this year.
The Catalan Government’s drug prescription fee and the Spanish Executive’s decision to make citizens pay for a greater share of prescribed drugs have had an effect on inflation. The price of pharmaceutical products has had its highest increase since at least 2003.
The Catalan economy remains in recession and decreased by 1.1% compared to last year. Although tourism and the foreign sectors have seen an increase, internal demand has been reduced, decreasing business in the industrial, construction and services sectors. The number of foreign tourists increased by 12.3% and tourist spending increased by 14.3%. In both cases, the percentages are much higher than the figures for Spain as a whole (2.9% and 5.6% respectively).
Unemployment dropped in July by 784 people, which represents a 0.13% decrease compared to a month ago. It is the fifth consecutive month that the number of unemployed people has decreased in Catalonia, reaching 614,792 jobseekers. In the whole of Spain, unemployment decreased for the fourth month in a row, dropping by 0.6%. Long term unemployment and youth unemployment have decreased in Catalonia. However, compared to 12 months ago, general unemployment has increased by 7.8%. In addition, the number of indefinite new contracts dropped by 1.3% compared to a year ago.
Unemployment in Catalonia dropped by 15,356 in June, leaving the total number of people registered as being unemployed at 615,576 individuals. It is the fourth consecutive month that the number of people registered as unemployed dropped in Catalonia. In the whole of Spain, unemployment also decreased last June. By the end of June there were 98,853 fewer people registered as unemployed throughout Spain.
Compared to the rest of industrialised countries, Catalonia’s industrial sector improved its competitiveness index by 0.7% between October and December 2011, compared to the same period a year earlier. Catalan industrial prices have been improving their competitiveness since 2009.
A study by the University of Navarra has revealed that Barça is the football club that received most media coverage worldwide for the fourth year on the run, this time ahead of Real Madrid and Chelsea in second and third spots. The study also found that Leo Messi was the player who received most media coverage, also for the fourth successive year, ahead of Cristiano Ronaldo and Didier Drogba.
Unemployment in Catalonia reaches a new historical record with 836.900 people registered as out of work. Spain’s unemployment rate at the end of March was 24.44%, reaching a total figure of 5,639,500 jobless people. The Spanish Vice President said on Friday that Spain is living “the harshest moments” of the crisis and that the data show that reforms need to be pursued. The Catalan Government criticised the Spanish Government for reducing the budget for employment policies by 56% due to be implemented in Catalonia in its budget proposal for 2012.
In the three first months of the year, the inflation rate remained stable in Catalonia. The monthly price increase, which is the highest since October 2010, is mainly due to the end of retail sales and the oil price increase. In Spain, prices increased by 0.7% in March, while the annual inflation rate was set at 1.9%.