The unemployment rate in Spain fell at a record pace in July, as the labor market began to recover from the impact of the coronavirus pandemic, data from the Labor Ministry showed.In July, exceeding the record figures of the previous two months, unemployment fell sharply by 197,841 people. Unemployment fell by 166,911 people in June and by 129,378 people in May.Seasonally adjusted, registered unemployment fell by 191,756 people in July.Unemployment fell by 133,658 in the service sector and by 13,158 in industry. In the construction sector, unemployment fell by 10,154 people and by 8,880 people in the agricultural sector.Unemployment among young people under the age of 25 fell by 36,926 people or 12.34 percent in July compared to the previous ...
ECB Deputy Head Luis de Guindos Jurado noted that the situation related to Ukraine will have a negative impact on the European economy. Inflation is expected to remain at a high level for a longer period of time. Before the start of the Russian military operation in Ukraine, the bank predicted a 4% increase in GDP by the end of this year. Now this forecast has been lowered to 2%. At the same time, Luis de Guindos Jurado assured that there would be no stagflation. ECB President Christine Lagarde expressed her point of view on the prospects of the European economy. She said that 2021 might be completed with a 3.7% increase in gross domestic product. In the next two years, the eurozone economy may show growth of 2.8% and 1.6%. As for inflation, the forecast for this indicator has been raised significantly. Now the ECB expects it to be 5.5% by the end of the year. In 2023, the rate of price growth will slow down to 2.1%, and in 2024, inflation will decrease to 1.9%. However, the forecast for the main economic indicators may be revised depending on how the situation in Ukraine ...
The State Administration of Switzerland reported that according to the results of the 2nd quarter, the volume of industrial production increased by 14.2% in annual terms. However, this growth rate should not be given special importance, since it was influenced by a low base. In the same quarter last year, the country's industrial production declined amid problems caused by the coronavirus pandemic. In April of this year, industrial production increased by 16.1%, and in May and June it increased by 17.4% and 13.1%, respectively. The construction sector of the Swiss economy showed growth of 6.5%. The volume of construction work in the commercial sector increased by 4.9%. At the same time, the volume of production in private construction decreased by 2.1%. The specialized sector in the construction sector showed an increase in production by 8.8%. Turnover in the Swiss industrial production increased by 17.4% in the 2nd quarter compared to a year ago. The growth rate of turnover in construction was ...
July inflation in the eurozone countries amounted to 2.2% in annual terms, which is 0.3 percentage points higher than the growth rate of consumer prices in the previous month. This is evidenced by the final assessment of price dynamics published by Eurostat. The indicator corresponds to the preliminary data and the forecast of the surveyed analysts. In July last year, inflation in the eurozone was recorded at the level of 0.4%. The assessment of the price dynamics in monthly terms also did not change. Eurostat confirmed that in July, consumer prices increased by 0.7% compared to the previous month. At the same time, a month earlier, inflation was 0.9%. In the EU countries, inflation, calculated in monthly terms, has not changed. And compared to July last year, the price growth accelerated to 2.5% from 2.2% in June. In all countries that are part of the eurozone, consumer prices rose in July. At the same time, Estonia, Poland and Lithuania became the leaders in terms of ...
