The global economy willshow moderate growth of 2.8% in 2025, following a downward revision from previous forecasts due to the negative impact of uncertainty and Trump’s new tariffs.
Activity in Spain’s Service Sector The sector has continued to show strong growth at the start of 2025, with increases in both sales and output. By segments, real estate, administrative services and transportation have led growth. International Tourist Arrivals in Spain In 2024, international tourist arrivals in Spain reached nearly 94 million—a record high that … Continued
Global debt issuance reached a new high in 2024 According to the OECD, in 2024 global debt issuance surpassed 25 trillion USD, while the global stock of debt exceeded 100 trillion USD. Following a brief pause during the pandemic, the global debt-to-GDP ratio has recovered its upward trend. More than half of OECD-sovereign and global … Continued
Recent shifts in U.S. foreign policy have compelled the European Union to bolster its defense and security efforts. As a result, the EU will need to embark on a substantial rearmament effort, as well as increase its public spending. Defense spending by EU Member States is relatively low, despite growing in recent years The increase … Continued
Growing fears of a recession and uncertainty surrounding the Trump Administration’s policies are weighing on US stock markets Worse than expected economic news and sudden changes in the US’ trade policy have driven a sell-off in US markets. The sell-off has affected a wide variety of sectors, but the technology stocks that drove recent growth … Continued
Lending in Spain Business’ access to financing in Spain Home sales and mortgages in Spain Economic activity in the US China’s growth target Eurozone inflation
Since 1995, Transparency International has analyzed countries’ perceived corruption based on in-depth surveys and evaluations provided by experts and business leaders.
GDP growth in Spain The Labor Market in Spain Inflation in Spain GDP growth in the Euro Area Monetary policy at the start of 2025 Trade dependence in EU countries
(27 de Enero de 2025) La Fundación PwC y el Círculo de Empresarios han presentado el informe Juventud y Empresa, un amplio estudio que pretende analizar cómo afectan a las empresas los cambios sociales de la juventud y cómo pueden las compañías contribuir a los retos que se abren para las nuevas generaciones. El documento … Continued
The German economy continues showing weakness POSITIVE FACTORS German GDP will achieve positive growth from Q1-25 onwards but will continue to lag relative to the rest of the Eurozone in the coming years. Private consumption shows signs of expansion as investment and exports begin to recover. Despite a recent uptick, inflation will remain subdued throughout 2025 … Continued
Financing to private sector Spain (Bank of Spain) Financing strategy of the Spanish Treasury Spain (Mineco) International tourism Spain (INE – FRONTUR and EGATUR) Unemployment EU-27 (Eurostat) Industrial prices EU-27 (Eurostat) US trade and services balance (Bureau ofEconomicAnalysis)
Global radiography of digital competitiveness GEOPOLITICAL RIVALRIES FRAGMENT THE DIGITAL LANDSCAPE, INFLUENCING THE WAY COUNTRIES DEVELOP AND USE DIGITAL TECHNOLOGIES AND THEIR ABILITY TO COMPETE ON A GLOBAL SCALE Economies characterized by strong governance, transparency and stable policy environments attract more digital investments and are more digitally competitive 5 European countries among the top 10 … Continued
Housing Price Index (HPI) Spain (INE) Harmonized Labour Cost Index Spain (INE) Minimum interprofessional wage in Spain (Eurostat) OECD growth forecasts (OECD) Employment in Europe after retirement (Eurostat) Inflation in Germany (Destatis)
Challenges for Chinese economic growth IN THE LONG TERM, THE CHINESE ECONOMY FACES A RAPIDLY AGEING POPULATION, A SHRINKING LABOUR FORCE AND STAGNATING PRODUCTIVITY. IN ADDITION, IT MUST SEEK A NEW ENGINE OF GROWTH BEYOND INVESTMENT IN THE SHORT TERM, CHINA’S ECONOMY IS SEEN AS ONE OF THE MOST VULNERABLE TO GROWING UNCERTAINTY DURING TRUMP’S … Continued
New scenario following Donald Trump’s victory EXTENSION OF THE 2017 PERSONAL TAX CUTS AND HIGHER SPENDING. IN ADDITION, REDUCTION OF IMMIGRATION AND TARGETED TARIFFS ON CHINA, MEXICO, CANADA AND THE EUROPEAN UNION The economy continues to grow at a good pace on the back of solid investment and consumption The US will continue to outpace … Continued
Financing to private sector Spain Export/import prices of industrial products Spain International tourism Spain Unemployment EU-27 Manufacturing PMIs Eurozone and the US US trade and services balance
Global growth stable, but at low rates UPWARD REVISION OF GROWTH FORECASTS FOR THE US AND EMERGING ASIAN ECONOMIES OFFSET BY DOWNGRADES FOR OTHER ADVANCED ECONOMIES, MAINLY EUROPE, AND THOSE OF THE MIDDLE EAST, CENTRAL ASIA AND SUB-SAHARAN AFRICA Global growth will reach 3.2% y-o-y in 2024 and 2025, 5 tenths of a percentage point … Continued
Global innovation trends REGIONAL INNOVATION GAP PERSISTS, ALTHOUGH EMERGING ECONOMIES ARE CLOSING THE GAP Switzerland maintains its leadership in the global innovation ranking The world’s top 5 science and technology clusters are in East Asia: Tokyo-Yokohama (Japan), Shenzhen-Hong Kong-Guangzhou (China and Hong Kong), Beijing (China), Seoul (Republic of Korea) and Shanghai-Suzhou (China) IN 2023, A … Continued
Public debt Spain Economic forecasts Spain Manufacturing PMI Spain OECD 2025 forecasts Eurozone Harmonized CPI Germany inflation
Slowdown in job creation OECD LABOUR MARKETS HAVE PERFORMED WELL DESPITE ADVERSE SHOCKS IN 2023, BUT THERE ARE SIGNS OF SLOWER DYNAMISM Moderate GDP growth with divergences between economies Stronger employment recovery in the Eurozone than in the US compared to pre-Covid19 levels Spain has the highest unemployment rate in the OECD in a context … Continued
Private sector financing Spain Unemployment in Spain International tourism Spain Unemployment EU-27 PMIs Eurozona Inflation Germany
Growth will slow in the coming years THE BANK OF SPAIN EXPECTS GDP GROWTH TO CONVERGE TO THE ESTIMATED POTENTIAL GROWTH CAPACITY OF 1.6% IN 2026 Domestic demand will be the main driver of activity The gradual reduction in inflation continues, which will be 3% in 2024 and 2% in 2025 GDP forecasts – comparative … Continued
Labour market Spain Balance of payments Spain International tourist expenditure Spain CPI Eurozone Manufacturing PMIs Eurozone Producer prices in industry EU-27
Social Progress in the EU and its regions THE INDEX SCORES FACTORS RELATING TO BASIC NEEDS, WELLBEING AND OPPORTUNITIES. THE NORDIC COUNTRIES CONSISTENTLY PERFORM BETTER THAN THE EASTERN AND SOUTHERN STATES By country, the highest-ranked countries have higher education and trust and governance as strengths. At the regional level, those with the greatest social progress … Continued
Strength of the US economy AFTER ONE OF THE FASTEST POST-PANDEMIC RECOVERIES, THE ECONOMY IS EXPECTED TO SLOW DOWN SLIGHTLY IN 2024-25 Investment and private consumption responsible for GDP growth in 2024 There are downside risks due to an increase in geopolitical tensions Resilience of the labour market, despite a slight increase in unemployment Stagnant … Continued
Labour market Spain International tourist arrivals Spain Manufacturing and services PMIs Spain OECD 2025 forecasts Eurozone Investor Confidence Index EU industrial production prices
Economic reality and outlook The region accounts for 9.6% of the world’s population and for a quarter of its GDP In 2024, growth will moderate compared to prepandemic level and inflation will average 21.6%, distorted by Turkey (58.4%) Weak growth in the region in 2024 Growth in 2024 weighed down by the weakness of the … Continued
Creation of companies CPI Spain Spanish private debt primary market Industrial production EU-27 Retail sales and food services US Industrial production and retail trade China
Economic reality and outlook The region is home to almost 50 percent of the world’s population and accounts for one-third of the world’s GDP Growth slows in 2024, but remains 1.3 pp above the global average All economies show positive growth rates in 2024, with Macao, Cambodia standing out Asia Pacific, the most dynamic region … Continued
Labour market Spain International tourist arrivals Spain Private sector financing Spain Manufacturing PMIs US-Eurozone Global trade World labour productivity growth
Tourismin Spain LabourmarketSpain Manufacturingand servicesPMI Spain Prices of industrial products EU-27 Eurozone Investor Confidence Index Labour productivity OECD
Africa, 14% of the world’s population and only 2% of GDP by 2023 ECONOMIC GROWTH IS EXPECTED TO ACCELERATE SLIGHTLY. HOWEVER, TIGHTENING MONETARY AND FISCAL CONDITIONS, DEBT SUSTAINABILITY, CLIMATE CHANGE AND GEOPOLITICAL INSTABILITY ALL POSE UNCERTAINTIES Africa will grow by 2.8% in 2024*, 1.1 pp less than in the pre-pandemic decade 57.8% of the African … Continued
