Just Released: "Spain Food & Drink Report Q3 2013"
As a result of Spanish unemployment reaching 27.2% in Q113 (the highest ever recorded level) we see Spain's private consumption picture deteriorating further over the next few quarters. Already low, real wages fell by 3.2% y-o-y in Q412 and unemployment is expected to remain above 25% until at least 2016, which will weigh heavily on disposable incomes and consumer spending for the time being. This economic environment will continue to create ideal conditions for private labels to thrive and will...
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