One in five firms predict staff cuts The economic crisis in the Canaries is expected to deepen in the coming months, according to a survey of the region's businesses.

Tenerife Arona Apartment to sell Playa de las Americas - Apartment Playa de las Americas – Parque del Conde – Apartment of 65 m2 living area with 2 bedrooms, 1 bathroom, ... more details Canary islands - 23.07.2008 - A joint report published by the two main Chambers of Commerce reveals that almost one in five companies expects to lay off staff in the third quarter of the year. The firms say that the fall in consumer spending due to higher mortgages and fuel prices is becoming increasingly apparent and the situation has not been offset by a rise in tourism. Confidence among businesses has falled by five points compared to the last quarter, in which nearly a quarter of firms admitted they had not renewed contracts for some staff.

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