The VAT hike and the likelihood of a deterioration in fundamentals herald a decrease in consumption expenditure in 2013, especially in durable goods
The risk of a euro break-up fades. Europe needs credible, effective and permanent political agreements.
The reforms announced are improving the Spanish long-term economic growth prospects, but decisive short-term and medium-term drivers are still very weak.
The VAT hike and the likelihood of a deterioration in fundamentals herald a decrease in consumption expenditure in 2013, especially in durable goods.
Households will continue to deleverage, shaping the performance of consumer credit.
The uncertainty explains changes in consumer lending interest rates during the crisis.
Weak fundamentals mean that consumption, especially of durable goods, is expected to decline.
Growth in Spain and Europe is lagging behind that of the global economy.
Weak fundamentals mean that consumption, especially of durable goods, is expected to decline.
Because of lingering financial stress, high default rates, and in particular, the expectation of weak demand, consumer credit is not likely to rise in the short term.
Worsening household expectations accounts for most of the fall in demand for consumer credit during the current crisis..
Job destruction has intensified and this coupled with the steady decline in household disposable income continues to drag down private consumption, especially durable goods.
Global growth slows and risks hamper expectations.
The Spanish economy continues to struggle with increasing chances of dipping back into recession.
Job destruction has intensified and this coupled with the steady decline in household disposable income continues to drag down private consumption, especially durable goods.
The BBVA Business Trends Survey’s results suggest the retail sectors’ economic situation got worse than previously expected.
Financial tensions persistency and demand weakness don´t anticipate an increase of consumer credit in the short term..
The number of people per car in Uruguay is among the lowest in the region, as the vehicle fleet has not yet fully recovered from the crisis of 2002
Sales posted a record growth in 2010, led by cars and light utility vehicles. The market leader was Chevrolet (28.7% of the market)
The local industry is dominated by three carmakers, most of whose production is destined to the bigger Mercosur partners, while 95% of domestic demand is supplied by imports
Prospects are promising in the medium term given the outlook for strong economic growth and exchange-rate stability, and sales would be above 52,000 units in 2012
The low level of bank financing for car purchase is the result of several factors, including problems of access due to the relatively high price of vehicles and the elevated level of informality in the labor market
The divergences in global growth rates are likely to condition economic policies.
The divergences in global growth rates are likely to condition economic policies.
The main characteristics of Spain's economic growth will continue to be weak internal demand and a positive contribution from net exports.
The acceleration of fiscal retrenchment altered the pattern of household consumption in 2010.
Because of its increased sensitivity to changes in prices and incomes, durable goods consumption was particularly affected by the acceleration in fiscal adjustment during 2H10.
The weak demand outlook does not look very conducive to an increase in consumer credit in the short term.
Two additional approaches to the analysis of the current economic situation in the retail sector: the BBVA surveys on economic activity and business trends.
Private consumption performed better than expected in the first quarter of 2010, but the necesssary fiscal consolidation process and increased uncertainty threaten its recovery.
International outlook: challenges ahead for a sustained recovery.
The recovery in the Spanish economy continues, although at a slow pace, and could be affected by persistent elements of uncertainty.
Private consumption performed better than expected in the first quarter of 2010, but the necesssary fiscal consolidation process and increased uncertainty threaten its recovery.
The differences in risk aversion and the composition of households explain the heterogeneity in the tendency to save in Spanish households.
Given the weakness of demand, no recovery in consumer credit is expected in the short term.
Outlook for the automotive sector: per capita car ownership in Spain is nearing a saturation point.
Families are increasing their savings rate, making the adjustment of expenditure last for longer...leading to a sustained loss of dynamism of the consumption of consumder durables
Families are increasing their savings rate, making the adjustment of expenditure last for longer...
...leading to a sustained loss of dynamism of the consumption of consumder durables.
Interest rate reductions are providing support...
..as are economic policies, which have an importante part to play, particularly in sectors which have a significant influence over the economy, such as the automotive sector
Spanish consumption is falling faster, dragged down by the global financial crisis. Household wealth suffering fromby dwindling asset prices, both financial and real estate
Consumption: stagnation in 2009
Financing: slowdown in consumer credit, converging with other European countries
Auto industry: in the face of weak demand, identifying potential buyers becomes crucial
