IN 2020, DESPITE THE PANDEMIC, IMPROVEMENTS WERE OBSERVED IN SCIENTIFIC AND TECHNOLOGICAL PROGRESS INDICATORS In 2021, Switzerland, Sweden and the US lead the global ranking and that of their regions. China, the one with the highest increase in R&D spending in 2019 among the top 5 investing economies. 60% of companies investing in R&D reported … Continued
EXPONENTIAL INCREASE IN VENTURE CAPITAL INVESTMENT IN AI SINCE 2012, FROM $3 BILLION TO $81.1 BILLION IN 2020. The mobility and health sectors accounted for 40.1% of the investment in 2020. The US is the world’s largest investor, although China’s average amount per investment is higher. In Spain, the proportion of workers equipped with AI … Continued
International air passengers Spain’s medium and long term debt Trade balance Jan.-Jul. 21 Eurozone and US CPI Economic forecasts China’s Industrial Production Index
Evolution of house prices in Spain Despite the strong social and economic impact of the pandemic house prices have shown positive growth rates. During the hardest months of pandemic, the moderation initiated in mid-2018 in the pace of house price advances has accentuated. Why do prices behave in this way? Changing consumer preferences Temporary shortage … Continued
Labour Force Survey Q2 2021 Economic forecasts for Spain 2021-22 Public Administrations debt May 2021 Public accounts in the Eurozone Q1 2021 Improvement of PMI on both sides of the Atlantic Foreign Direct Investment Position US 2020
In May 2021, there were 8 Million more unemployed people in the OECD than before the pandemic, and the forecast is that only a few economies will have recovered employment levels prior to the crisis by the end of 2022. The crisis has had a big impact on young people, and those in low-skilled or … Continued
Perception of corruption in the EU-27 A third of the population surveyed in the EU-27 have noticed an increase in corruption over the past 12 months, wich is a problem that affects both the public and private sectors. 62% of Europeans consider governmental corruption a serious issue. Perception of corruption in Spain 23% of those … Continued
Summary The global economic situation The pandemic caused by Covid 19 and the subsequent health and economic impact led to a 3.3% fall in global GDP in 2020 with China being the only major economy to register positive growth (2.3%). After a year of the pandemic, a high level of uncertainty remains about how the … Continued
In 2021 , Spain fell three positions to 39 th out of 64 countries analysed , its worst position since 2014 . A significant deterioration in the economic performance indicators (from 31 st to 42 nd) and governmental efficiency (from 44 th to 49 th). The average GMW increase in 2021 is 3% with a … Continued
One of the megatrends that characterizes the world today is the exodus of people from the countryside to cities. Between 1950 and 2050 the urban population will multiply by 9, reaching 62.5% of the world population, 6.5 pp more than in 2020. North America is the region with most people currently living in urban areas … Continued
In the Index of Economic Freedom published by The Heritage Foundation, 54.4% of the 178 countries analyzed enjoy at least a moderate degree of economic freedom (score above 60 points). Singapore, New Zealand, Australia, Switzerland and Ireland lead the ranking with scores above 80, putting them in the ranks of the economically “free”. Spain (69,9 … Continued
Service Sector Activity Indicators By Autonomous Community, the increases in turnover in Castilla-La Mancha (31.8%), Castilla&León (30.9%) and Galicia (30.8%) stand out Regarding employment, the biggest decreases were in the Balearic Islands (12.3%) and the Canary Islands (8.6%). Industrial Prices Index (IPRI) Temporary employment * in Spain Flash composite PMI index of total activity In … Continued
The economy will be conditioned by the pandemic in 2021 and 2022 Conditioning factors for recovery: evolution of the pandemic and efficiency/efficacy of the vaccines; easing of restrictions on activity and economic agents’ reaction; duration of the support policies and the impact of the European funds; recovery of the tourism sector; spending and household saving … Continued
In Spain, the tax wedge exceeds the OECD average. This gap is mainly explained because Spanish employers support higher social security contributions. By family type, the tax wedge is higher for single workers without children than for married couples with children.
Labour Force Survey Q1 2021 (INE) In Q1 2021, the loss of 137,500 jobs compared to the Q4 2020 has not implied an increase in the unemployment rate due to the decline of both the active population (-203,400) and the unemployed (-65,800). Compared to the Q1 2020… Industrial Prices Index (IPRI) (INE) Energy and intermediate … Continued
The pandemic and the measures to prevent the spread of the virus have altered household money management behavior. Savings shot up in Q2 2020 as a result of the strict lockdown in response to the pandemic. Spanish families increase their savings way above those of German ones in times of crisis. Private consumption decreased mainly out … Continued
In 2020, Covid-19 caused an annual decrease in mobility servicices revenue of 52.3% (-51.7% worldwide). In 2021, an upturn of 58.3% is expected, conditioned by the epidemiological evolution and progress in the vaccination program. Mobility services include personal transport solutions that are different from those that involve the use of an owned vehicle such as … Continued
The European Union (EU) response to the economic and social impact of the pandemic has been rapid and robust. The European Recovery and Resilience Facility (Next Generation EU) is an important step in the European construction process, most notably in the design and implementation of common fiscal policy elements. The efficient allocation of the funds … Continued
Foreclosures In Q4 2020, foreclosures increased 109.9% year-on-year to 3,018, maintaining the upward trend which began in Q3 (+82% year-on-year). In 2020 as a whole, after 5 years of consecutive decreases, foreclosures on main residences increased 37.4%, reaching 7,367, the biggest increase since records began in 2014. Industrial production In January 2021, industrial production registered … Continued
In 2020, tourism in Spain collapsed as a result of Covid-19. Nineteen million foreign tourists arrived in Spain, 77% less than in 2019 when the sector had been registering several years of record-breaking levels. In 2020, the leading source market for tourism to Spain was France with 3.9 million tourists, compared to 3.2 million from … Continued
Industrial production, Spain In 2020, after six consecutive years of growth, the industrial production index (IPI) recorded an average yearly decrease of 9.1%. This is the biggest fall since 2009 when production slumped 16.2% at the height of the financial crisis. The reduction, which was especially intense between March and June, is a partial reflection of … Continued
CEOs say they are laser-focused on these top internal strategies… Accelerate pace of digital transformation Improve Innovation Modify business model Lower costs Streamline processes … and internal obstacules in 2021 COVID-19 related disruptions lack of quality talent Resource constraints relative to business needs Lack of an innovation Regulation
2020 ends with a world economic contraction above 4%, the biggest GDP decrease since World War 2. Among developed nations, growth comes to a standstill after the renewal of activity in Q3 as a result of the surge in cases and the movement restrictions. Services, especially those related to the hotel and leisure industry, experience … Continued
Industrial production, Spain In November 2020, the industrial production index (IPI) fell 3.8% year-on-year against a 1.6% increase in the same month in 2019. By sectors, all showed negative rates except intermediate goods (1.2% year-on-year). Production in the energy sector also fell 7.8% year-on-year, capital goods 7.1% and consumer goods 3.6%. By Autonomous Community, the … Continued
The president of the Health Working Group of the Círculo de Empresarios, Pedro Nieto, analyzes why digitalization is essential to promote the improvement of the health sector in Spain. Click on this link to watch the spanish version. Pedro Nieto analyzes how innovation is a key element to improve the Spanish health system. … Continued
Unlikely events that could take place and have an impact on world growth Amazon “buys” Cyprus Amazon relocates its headquarters to Cyprus, where the tax policy is more favorable. In light of this, the EU reacts to the movements of big tech and calls on member countries to strengthen fiscal harmonization. Germany bails out France … Continued
Mortgages, Spain In September, the number of mortgages approved on properties increased 18.4% year-on-year (26,878 mortgages), making it the highest figure since December 2019 (+44.8%). On the other hand, the average amount fell 1% year-on-year (to €135,035), while the capital loaned increased 17.2% yearon- year (reaching €3.629 billion in September). The average interest rate was … Continued
The sees the economic scenario forecast by the government on the evolution of the pandemic and its impact on activity and revenue as optimistic. COVID-19 has obliged the government to increase spending significantly, with forecasts that the structural deficit will reach 5.4% of GDP in 2020. Assuming that part of the exceptional expenditure will remain … Continued
In its autumn perspectives, the European Commission forecasts a 12.4% yearly decrease in GDP for Spain in 2020 (vs. -9.4% in its spring forecast), making it the economy to register the biggest downturn. In 2021, the Spanish economy will grow 5.4%, 1.6pp less than estimated in May, and will not recover production levels prior to … Continued
On November 4 and 5, Círculo de Empresarios and Fundación Rafael del Pino held the First Forum on the Global Economy, an initiative that, on an annual basis, is aimed at discussing the situation and prospects of the world economy. The Forum was opened by John de Zulueta and María del Pino, presidents of the two … Continued
GDP, Spain In Q3 2020, GDP rose 16.7% quarterly (compared to -17.8% Q2 2020), the biggest increase since quarterly reporting began. This development is due to the resumption of economic activity after the end of the household lockdown from previous months, and the recovery of activity during the summer months. In year-on-year terms, after the … Continued
Círculo de Empresarios and Fundación Rafael del Pino have launched the I Forum on the Global Economy, an initiative that is aimed to discuss the situation and prospects of the world’s economy. This Forum, which will take place on November 4th and 5th, will be opened by John de Zulueta and María del Pino, presidents of the … Continued
In 2020, the main international organizations forecast a 1.8 yearly growth rate for China, in contrast to significant decreases for the rest of the economies. In 2019, China’s economy surpassed the whole Eurozone countries in terms of GDP size, and it is expected to overtake the US by 2030, according to forecasts by Oxford Economics. … Continued