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
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
Labour cost, Spain In Q3 2020, the Harmonized Labor Cost Index, increased 2.9% year-on-year (compared to 8.1% in Q2 2020). This slowdown with respect to the previous quarter can be explained by the smaller decrease in the number of hours worked after the end of the state of alarm (June 21st). Among its components, salary … Continued
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
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
Labour Cost Index, Spain In Q2 2020, labour costs per hour worked grew 8.3% year-on-year (against 3.1% in Q2 2019), the biggest increase on record. This development is explained by a fall in the number of hours worked greater than that of salary costs as a result of the state of alarm and the lockdown … Continued
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
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 sector, Spain In March, 6,767 new companies were created, the lowest figure for this month since 1995. This implied a fall of 28.3% compared to the same month last year. The capital subscribed for their creation reached €411.7 billion, 5.9% lower than in March 2019. By sector, most new businesses were related to trade … Continued
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
Industrial Production, Spain In January, the Industrial Production Index (IPI) decreased 2.1% year-on-year, its biggest drop since March 2019 (-2.7%). By sectors, all have fallen, especially in energy (-5.8%) and consumer goods (-1.8%). By Autonomous Community, the IPI only increased in Navarra (8.6%) and Galicia (2.9%), while the largest declines were recorded in Andalusia (-12.1%), … Continued
Industrial production, Spain In 2019, the Industrial Production Index in Spain (IPI) rose by an average of 0.6% yearon- year compared to the decline in the Eurozone (-1.7%). Nonetheless, this increase was 0.14pp lower than in 2018, and the lowest increase since 2014. By sectors, the increase in production of capital goods (2.5% year-on-year) and … Continued
Industrial production, Spain In November 2019, the Industrial Production Index (IPI) in Spain increased by 2.1% year-on-year, compared with the 3% decline registered in the same month of 2018. This increase is the second largest of the year since the 2.8% increase in January, in a context where the industrial production throughout the Eurozone has … Continued
Tourism, Spain Between January and October 2019, tourist arrivals in Spain increased by 1.1% year-onyear, which is 0.5pp more than the increase recorded in the same period last year, amounting to 74.4 million visitors. Despite this increase, the tourist arrivals from the following main tourist sending countries dropped: • The United Kingdom (22% of the … Continued
Trade in goods, Spain Between January and September (Eurostat), exports of Spanish goods increased by 1.4% year-on-year, which is 2.5pp less than in the same period of 2018, to €221.5 billion (18.4% of GDP). Concurrently, imports slowed down to a moderate growth of 1% year-onyear, compared with 6.3% in the same period last year, standing … Continued
Balance of trade, Spain In 2019, between January and August, the exports of goods increased by 1.1% year-onyear, which is 3.1pp less than in the same period of 2018, amounting to €192,131 million (15.9% of the GDP). Whereas for the same period, the imports of goods dampened down to 1.2% year-on-year (vs 6.1% year-on-year in … Continued
Labour cost, Spain The rise in the minimum wage since January 2019 (22.3%) and the higher maximum contribution bases to Social Security (7%) are the main factors that explain the rise in labour costs. Specifically, in Q2 2019, the labour cost per worker increased by 2.4% year-on-year (2.1% in Q1 2019) to €2,664.55, the largest … Continued
Private sector debt, Spain In Q1 2019, the consolidated debt of nonfinancial corporations and households increased for the first time since Q3 2009 by 0.2% year-on-year, to €1.6 billion (132.8% of GDP). In the case of non-financial corporations, the increase in minimum wage, labour and investment costs, and lower profit margins explain the rise in … Continued
Labour costs and minimum wage In Q1 2019, the average labour cost1 in Spain has increased for the seventh consecutive month by 2.1% year-on-year (up to €2,550.27 per month per employee), its largest increase since Q4 2013. By components: • The average salary cost2 has increased by 1.7% year-on-year (to €1,876.19 per month per employee), … Continued
Industry Spain In March, industry indicators exhibit a downward trend year-on-year. Specifically: • The Industrial Production Index (IPI) dipped by 3.1% for the second consecutive month, 2.9 pp more than in February. By sector, the most noticeable drops occurred in energy goods (-9.9%) and durable goods (-5.8%), while capital goods (+0.5%) and intermediate goods (+0.4%) report … Continued
Labour market Spain In March, the registered unemployment in the Social Security fell by 4.89% year-onyear to amount to 3,255,084 unemployed, while the number of affiliates increased by 2.93% to a total of 19,043,079. Tourism sector Spain In 2018, the Synthetic Indicator of Tourism GDP in Spain (ISTE) reported an annual increase of 1.9%, which … Continued
Spain’s Balance of trade In 2018, Spain’s trade deficit widened by 36.6% due to an increase in imports of goods (5.6%), and are 2.7pp higher than the increase in exports (2.9%). The lower dynamism of our exports is mainly explained by the deceleration of the main European economies and global trade tensions. Women on Boards … Continued
Business… at a glance February 2019 from Círculo de Empresarios
Business creation The incorporation of companies in Spain between January and November reached 88,790 companies, representing an increase of 0.77% year-over-year. By Autonomous Community, Castile-La Mancha and Madrid exhibited marked progress with 8% and 7.4%, respectively. In contrast, sharp drops were recorded in Asturias (-9.7%) and Catalonia (-6.7%). Manufacturing PMI In November, Spain’s manufacturing PMI … Continued
Business financing In 2017, the financing of non-financial companies in Spain originating in fixed income and variable income totalled €10.5bn and €26.8bn respectively, while the net flow of bank loans decreased by €7bn. This situation starkly contrasts with the pre-crisis period, when the flow of bank financing represented almost 21% of GDP (€211.6bn). Currently, Spain … Continued
Business perception In Q4 2018, the Harmonised Business Confidence Index (HBCI) of Spain decreased by 1.1% year-on-year to stand at 133.9 points, recording its biggest drop since 2013. The percentage of businessmen that are more pessimistic increases to 16.1%, while the optimists fall for the second consecutive quarter and are down to 19%. Business activity … Continued
The evolution of lending in Spain From January to July, the volume of new loans to companies reached €221 billion, an increase of 8.8% year-on-year. Concurrently, new consumer credit (€20.1 billion) and housing-loans (€26.8 billion) saw gains of 21.8% and 15.8% year-on-year, respectively. Private capital investment In Spain, in the first half of 2018, investment in … Continued
Business financing In 2017, bank financing for non-financial companies listed on the IBEX 35 reached €69.1 billion (5.9% of GDP), accounting for 32.9% of total financial liabilities (39.1% less than in 2010). At the same time, a structural change in its financing model was confirmed by increasing corporate debt issues by 27.8% since 2010 (55.3% of … Continued
Business… at a glance June 2018 Círculo de Empresarios de Círculo de Empresarios
Corporate tax receipts 2017 Corporate tax receipts in 2017 increased by 6.8%, from €21.6 billion in FY2016 to €23.1 billion in FY2017, mainly due to the improvement in corporate profits. The tax base widened to 106.3 billion, 11.7% more than in 2016. By company size, the large enterprises1 and the consolidated groups accounted for 86% … Continued
The MAB & the MARF The Alternative Equity Market (MAB) In 2017, the financing obtained through the MAB by the segment of growth companies reached €112 million (-40% yearly) in 11 operations, with 42 companies already making up this market. The Alternative Fixed-Income Market (MARF) During 2017, 29 MARF companies leveraged €3.9 billion in corporate … Continued
Business Confidence In January 2018, Eurozone PMI Composite Output Index rose to 58.8 (58.1 in December), its highest level since June 2006. France leads the growth ranking at 59.6, followed closely by Germany, Italy, and Ireland at 59. The February 2018 estimate is that of a slip to 57.5, a three-month low, although it remains … Continued
