Spain's business creation falls by 1.1 pct in Feb

MADRID, April 10 (Xinhua) -- The creation of new businesses in Spain fell by 1.1 percent in February when compared with the same month of a year earlier, according to data published on Tuesday by Spain's Statistical Office (INE).

The INE reported that a total of 8,747 new businesses were born in the second month of the year, which used a subscribed capital of more than 454 million euros.

Regarding Spanish regions, Madrid (center), Catalonia (east) and Andalusia (south) registered the largest number of new businesses in the second month of the year, with 2,092, 1,578 and 1,360 new companies respectively, while La Rioja, Cantabria and Navarra, all of which located in the north of the country, registered the lowest figures of 45, 67 and 88 respectively.

According to INE, 18.8 percent of new businesses created in February belonged to the trade sector and 15.2 percent to the building sector.

On the other hand, a total of 2,284 businesses were dissolved in February, which meant a 1.6 percent rise year-on-year. 75.6 percent of the companies dissolved voluntarily, 9.7 percent via mergers and 14.7 percent for other reasons. 20.9 percent belonged to the trade sector and 15.9 percent to the construction sector.

On a month-to-month basis, the INE said that business creation fell by 7 percent and the number of businesses dissolved decreased by 38.4 percent. Enditem