Recovery taking longer in Valencia - leatherbiz: Leading news site for Leatherbiz

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Recovery taking longer in Valencia

12/03/2010
Business leaders in the Valencia region have announced that companies there had a much improved fourth quarter of 2009, compared to the start of the year, and had slowed decline.

The Valencia Business Confederation (CEV) said the region was lagging behind the rest of Spain in halting the fall in business activity, but that the fourth quarter of the year had been markedly better than March or April 2009.

Economists have said the Valencia region’s economy shrank by 3.95% last year, while the figure for the whole of Spain was 3.83%. Also the unemployment rate in Valencia in the fourth quarter of 2009 was 22.5%, while the national figure was 18.8%.

In explaining the difficulty, CEV said that a number of industries were proving slow to get on the road to recovery and were still painting a “more adverse” picture. One of these is the leather industry. The Valencia region has 34 companies involved in the tanning sector, employing a total of 1,000 people.


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