Business… at a glance June 2021

Spain’s manufacturing and service sector PMI In May, manufacturing activity registered its highest level of the past 23 years, and service sector activity was the highest since August 2015. Tax revenue from large enterprises and SMEs In April 2021 tax revenue from large enterprises increased 23.7% year on year and that of SMEs by 1.3%. … Continued

Economy… at a glance May 2021

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

Business… at a glance May 2021

The tourism sector (INE) In the first quarter of 2021, 1.208.761 international tourists arrived in Spain, 13 million fewer than two years ago when the pandemic still hadn t brought the sector to a standstill. Industrial Production Index (IPI) (INE) By autonomous community, the advances in Navarre (31.2%) and Cantabria (26%) are in contrast with … Continued

Business… at a glance April 2021

Industrial Production Index (IPI) (INE) By autonomous community, the increases in Cantabria (12,0%) Galicia (4,8%) and Extremadura (4,1%) are in sharp contrast with the decreases in the Balearic Islands (14,0%) and Canary Islands (12,3%) Sales by Large Companies (Tax Agency) In Jan Feb 2021 sales by large companies (with last year s business operations at €6.01 … Continued

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Business… at a glance March 2021

Labor costs, Spain In Q4 2020, labor costs per worker and month fell -0.1% year-on-year to €2,752.26, a slight decrease against the 8.3% of Q2 2020. By components, salary costs fell 0.7% year-on-year to €2,061.30. “Other costs” grew 1.7%, as a result of the increases in Social Security contributions (1.4% year-on-year to €634.57) and non-wage … Continued

Annual Report 2020

“Círculo wishes to contribute to improving Spanish society, furthering the common good” Círculo de Empresarios is a think tank in which more than two hundred business people and senior executives from both national and international companies in Spain participate. Its main goals consist of the fostering of the free market and private enterprise, the acknowledgement … Continued

European Funds – an opportunity we must take advantage of

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

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Economy… at a glance March 2021

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

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Business… at a glance February 2021

Activity indicators Service sector In December, the General Services Sector Turnover Index registered an 8.7% year-on-year contraction, accumulating. This figure has remained in negative territory for the 10th consecutive month, but it has improved compared to November (-12.6%), which indicates a slight recovery of the sector that coincided with the Christmas season. In 2020 as … Continued

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Economy… at a glance February 2021

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

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Business… at a glance January 2021

Mercantile Companies, Spain In November 2020, 7,339 businesses were incorporated, an increase of 0.1% year-onyear (compared to -7.9% in October). The capital subscribed increased 14.6% yearon-year to more than €367 million. For its part, the number of dissolved companies (2,062) grew 4% year-on-year (compared to -8.8% in October). By activity, most of the businesses formed were … Continued

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Economy… at a glance January 2021

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

Economy… at a glance december 2020

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

Business… at a glance November 2020

Trading companies, Spain In September, the number of companies created increased 14% year-on-year (6,599 businesses), making it the highest rate since August 2016 (23.5%). At the same time, the capital subscribed for their constitution increased 11.5% year-on-year, exceeding €223 million. For its part, dissolved companies increased 29.3% year-on-year (1,623 companies), the highest percentage since April 2013 … Continued

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Business… at a glance October 2020

Private sector debt, Spain In Q2 2020, combined business and household debt rose 1.9% year-on-year (compared to -0.4% Q2 2019) to 141.2% of GDP (€1,654 billion), the highest level since Q3 2017 (141.9%). This development can be explained as a result of the increase in debt and the decrease in GDP in absolute terms. Company … Continued

Quarterly Report. Global and Spanish economic perspectives Q3-2020

Economic situation summary The uncertainty surrounding the spread of Covid 19 is significantly conditioning economic agents’ expectations for the coming years In this context, most international organizations (the IMF, OECD, World Bank and European Commission) project a contraction of GDP above 3 yearly for 2020 and warn of risks such as rising unemployment and a … Continued

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Economy… at a glance July-August 2020

Economic outlook, Spain In 2020, the Independent Authority for Fiscal Responsibility (AIReF) forecasts that Spanish GDP will be between -10.1% in the best-case scenario (compared to a preliminary -8.9%) and -12.4% (compared to -11.7%) in the worst case. This will depend on the duration of the pandemic, and its capacity for the recovery of economic … Continued

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Business… at a glance July-August 2020

Labour market, Spain In June, the number of affiliates to the Social Security system registered a moderate increase of 0.4% year-on-year, to 18,624,337 people. By sectors, construction experienced the biggest increase at 3.7% month-onmonth, followed by industry (0.7%) and the service sector (0.3%). On the other hand, agriculture fell 3.2%. In spite of the increase, … Continued

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Business… at a glance June 2020

Industrial production, Spain In April, the Industrial Production Index (IPI) fell 33.6% year-on-year. This is the biggest decrease since reporting began, in a context marked by the impact of the lockdown measures to contain the spread of Covid-19. According to goods types, the biggest decreases were with consumer durables (-67.5%) and capital goods (-57.4%). Production … Continued

Business… at a glance April 2020

Business confidence, Spain In the second quarter (Q2) of 2020, the Business Confidence Index (BCI)1 was at 95.5 points, the lowest level since the start of the series, falling 26.9% with respect to the first quarter of the year. 75.1% of business managers think their company performance will be negative in the second quarter, 21.8% … Continued



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