Antonio Argandona, professor of economy at the world-renowned IESE Business School of the University of Navarra, told delegates at a recent event in Barcelona promoting next year’s Alimentaria 2010 food and drink exhibition that unemployment is likely to reach 20 percent before the end of this year and the country’s recession will not finish before the end of 2010.
“Spain’s consumer is an uncomfortable consumer, a pessimistic consumer,” said Argandona. “Each time he goes into a supermarket he spends less and leaves luxury products aside.”
Consumers
