New Market Research Report: Consumer Health in Spain
In 2012 Spain went back into recession, with GDP declining by 1%. In this year Spain did not only have to face a declining economy, but also the rescue of the financial system after the fourth most important bank in Spain, Bankia, collapsed. This rescue and the high public deficit resulted in higher taxes - both income tax and VAT. Disposable incomes dropped once again, and as a result, overall consumption declined, with consumer health declining by 2% in current...
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