Record Number of Individuals and Businesses Declare Bankruptcy in Spain
A record 2,272 Spanish individuals and firms declared bankruptcy in the second quarter, up 28.6 percent from the same period in 2011, the National Statistics Institute, or INE, said Monday.
Failing businesses accounted for all of the increase, as personal bankruptcies fell by 12 percent.
Spain had 6,755 bankruptcies in 2011, the highest annual total since the INE began keeping records, and an increase of 13.3 percent over the previous year.
Nearly 31 percent of all the firms that declared bankruptcy in the second quarter were in construction, which continues to shrink as Spain struggles with a double-dip recession and the bursting of a decade-long housing bubble.
Small and medium-sized companies, defined as those with annual turnover of less than 2 million euros ($2.48 million), represented 70 percent of the business bankruptcies in the April-June period.
Spain’s ICC consumer confidence index dipped in July to its lowest level since the monthly survey was launched, the official Center for Sociological Research said last Friday.
The ICC, which is based on a scale of 0 to 200, came in last month at 37.6 points, down 13 points from June and 36 points from July 2011.
Any reading below 100 points is considered negative.
More than 60 percent of those surveyed said their families’ finances had deteriorated over the previous six months, and 48.4 percent expect things to get worse in the next six months.
Two-thirds said they struggle to make it to the of the month without running out of money.
Almost 89 percent of respondents characterized Spain’s present economic situation as bad and 71.5 percent foresee a further decline.
A majority said they expect both inflation and interest rates to rise in 2013.
Spain’s jobless rate stands at 24.6 percent overall and more than 53 percent among people under 25.
Published in Notitas de Noticias
2012-08-06 23:38:36
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,708,017,101 |
| Stories: | 8,449,274 |
Whistler Blowers, Insiders
