Spain's business creation rises by 1.5 pct in October

MADRID, Dec. 12 (Xinhua) -- The creation of new businesses in Spain rose by 1.5 percent in October when compared with the same month of year earlier, according to data published on Tuesday by Spain's Statistical Office (INE).

The INE reported that a total of 7,236 new companies were created in the tenth month of the year, which used a subscribed capital of 432 million euros (506.53 million US dollars), 39.9 percent less than in the same month of a year earlier.

A total of 21.5 percent of the companies created in October belonged to the trade sector and 14.5 percent belonged to the construction sector.

A total of 1,507 companies were dissolved in October, which meant a 2.3 percent fall year-on-year.

On a month-to-month basis, business creation rose by 17.6 percent, while the number of companies dissolved fell by 36.1 percent, the INE said.

Among regions, center region Madrid, southern Andalusia and Northeastern region Catalonia registered the highest number of new businesses in October. A total of 1,709 new businesses were seen in Madrid, Andalusia saw 1,260 new companies and Catalonia 1,224 new businesses. Enditem