According to Spain’s National Statistics Agency, retail hiring has improved in November with a 1.8% improvement from the previous year. Analysts claim this to be the fastest employment rate decrease since Spain’s 2009 recession.
Spanish retail sales have also improved by 3.3% in November. The growth has sparked positivity with many retailers believing it to be the country’s biggest recovery in years
Italy’s business confidence reduced by Tuesday but is still quite high compared to its situation in 2009. Despite such, consumer confidence in Italian retailers remain high despite a fall to 105.8 from 107.1 in November.
Meanwhile, the EU expects its move to allow China have a “market economy status” may dislodge some European economies. China’s flood of low-priced goods may de-value certain products and items. The status also makes it difficult for the US or EU to impose tariffs on Chinese companies violating certain market rules for introducing cheap products to respective industries.
Italy is one of the countries opposed to granting China its market ecnomy status. British Labour Member of the European Parliament David Martin said China was already part of the WTO 15 years go. It was because of its failure to fulfil its requirements that makes it an invalid market economy.
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