The Salon Index as Spain's Economic Indicator
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In Europe, the markets have returned to punish debt-ridden countries just days after their latest summit to save the euro. The interest Italy and Spain pay on bonds has spiked dangerously, stoking fears for the currency. Spain is about to swear in a new government promising swift labor reform to reduce the country’s 22 percent unemployment.
Hotel owners say bookings are down. Construction companies are idle. But there’s at least one sector that is actually growing: health and beauty. On a Barcelona street a tandem of beauty-related businesses thrive.
One of these shops is the Marco Aldany hair salon.
Inside, a bank of chairs is occupied, mostly by middle-aged women getting their hair washed, cut and dyed. More women wait on seats by a window. The manager here, Patricia Marquez, darts from station to station, keeping her stylists, and her clients happy.
