Only for members of the Federation
The price of European emission trading rights rose by 22% in the first semester in 2010. The volume of transactions rose in the first two months of the year, only to later fall during March. Maximum market liquidity was reached in April, when more than 500 million tons were traded. The long-term moving average of trading prices is expected to continue to rise in the months to come, although the summer recess could negatively affect the dynamics of price increases. Market liquidity could decrease in the next few months before recovering once again in the autumn.
According to the latest available information for the quarterly evolution of the Basque economy, the Basque Savings Banks have estimated interannual GDP growth in real terms of 0.8% for the Autonomous Community of the Basque Country for the 2010 financial year. This implies a value which lies between the 1.7% estimate for the European Union and -0.3% for Spain.
Although carbon rights trading increased globally by 62% last year, the market value only rose by 3.2% due to the drop in transaction prices. The failure of the Copenhagen summit sparked a new crisis in the carbon market. We will have to wait for future summits to see whether and how the doubts raised have been answered.
In the first quarter of 2010, the Basque consumer confidence index stood at 81 points - 12 points down on the the previous quarter. Despite this fall, Basque consumer confidence continued its path of slow recovery following the minimum value reached in the second quarter of 2008.
