GDP, Spain The European Commission has reduced the previous growth forecasts of the Spanish economy from 2.3% to 1.9% in 2019 and from 1.9% to 1.5% in 2020. The downwardly revised new forecasts are mainly explained by the revision of the historical series of the Spanish National Statistics Institute (INE) and the moderation of the … Continued
Economic slowdown In August, Spain recorded the third largest economic slowdown among OECD ountries, after Ireland and Slovenia. Specifically, the Composite Leading Indicator (CLI) decreased by 0.22 points to 98.58 and has been below 100 points1 for 12 months now. In turn, the rate at which the Spanish economy is slowing down has doubled that of … Continued
Growth forecasts The Bank of Spain has revised down its growth forecast for the Spanish economy to 2% in 2019 and 1.7% in 2020, which is slightly lower than that provided by the Government and the Funcas consensus (2.2 % in 2019 and 1.9% in 2020). The main causes that explain this downward forecast are the … Continued
Pension expense, Spain In August, the payroll of Social Security contributory pensions in Spain increased by 5.03% per year, reaching 9.68 billion euros per month. Between January and August, it increased at a rate of 6.8% year-on-year, compared with 3.8% in 2018 and 3% in 2017, and 4.5pp above the forecasted growth for the Spanish … Continued
National accounts, Spain In Q1 2019, GDP increased by 2.4% year-onyear (0.1pp more than the previous quarter). This evolution is mainly on the back of domestic demand contribution (2.2pp), despite it reporting a lower dynamism compared to Q4 2018 (2.5pp): • Business investment rose by 4.7%, which is 0.3pp more than in Q4 2018. • … Continued
Growth forecasts, Spain For 2019, the Bank of Spain has raised its growth forecasts to 2.4%, up by 0.2pp than in March, given the favourable business investments and the positive contribution of the external demand, mainly due to the lower propensity to import. In addition, the Spanish economy grows on the back of a favourable … Continued
Growth Q1 2019 Spain In Q1 2019, GDP grew by 0.7% quarter-onquarter, its biggest progress since the end of 2017, standing at 2.4% year-on-year, 1.2 pp above the Eurozone average. The contribution of domestic demand to year-on-year growth reduced by 0.3 pp to stand at 2.2 pp, the lowest since Q4 2016. By components: • … Continued
Industrial production Spain The Industrial Production Index, after rising by 2.7% in January year-on-year, declined by 0.3% in February, due to the contraction of the production of the energy sector (-6.15%), of the durable consumer goods (-2.4%) and intermediate goods (-0.5%). By Autonomous Community, the industrial production increased in Castilla-La Mancha (5.1%), Aragon (3.4%) and Canary … Continued
Public accounts In January, the debt of public administrations reached €1.17 trillion, reporting a year-on-year increase of 2.6%, above the growth of the Spanish economy (2.4% in Q4 2018). Currently, the debt-to-GDP ratio is 97.4%, 2pp over the target set for 2019 (95.4% of GDP). Whereas, BBVA Research forecasts a public deficit of 2.7%* of … Continued
Debt of Public Administrations In 2018, the total closing balance at year end of the debt of the public administrations as a whole was €1.17 trillion, recording an increase of 2.3% YoY (€26.5bn). Thus, public debt reached 97% of GDP, one-tenth more than the objective established in the General State Budget PGE 2018. By levels … Continued
Quarterly GDP (INE and AIReF) In Q3 2018, Spain’s GDP grew by 2.4% yearon- year (-0.1pp than in Q2 2018), with a contribution of 2.8 points by domestic demand and, for the fifth consecutive quarter, a negative contribution by the external sector, of 0.4 points. In Q4 2018, AIReF maintains its quarterly growth forecast at … Continued
Growth forecasts In the current context of deceleration of the global economy, the main international organisations have lowered their growth forecasts for Spain. The European Commission and the OECD agree that the Spanish economy will grow 2.6% in 2018 and 2.2% in 2019, below the IMF estimate (2.7% and 2.2%, respectively). For its part, the … Continued
GDP growth In Q3 2018, the year-on-year growth of Spain’s GDP remained stable at 2.5% (0.6% compared with Q2 2018), with a 3pp contribution to growth by domestic demand, and for the fifth consecutive quarter, a negative contribution by the external sector (-0.5pp). The Spanish economy grows with a difference of eight-tenths (0.8) above the … Continued
Signs of slowdown set in for the Spanish economy • GDP In Q2 2018, the Spanish economy expanded by 0.6% quarter-on-quarter, one-tenth less than in Q1, and 2.7% year-on-year, after narrowly exceeding 3% in the last three years. This evolution is explained by the deceleration in private consumption (+0.2% vs 0.6% average in 2017) and by … Continued
Economic growth According to BBVA Research forecasts, Spain’s annual growth will be 2.9% in 2018 (0.4 pp more than the previous estimate). This development is mainly based on a 2.6% annual increase in private consumption, explained in part by the good performance of employment and the increase in real disposable income (2% per year). In contrast, … Continued
Economy at a glance june 2018 Circulo de Empresarios from Círculo de Empresarios
Preliminary Quarterly GDP In Q1 2018, the Spanish economy grew by 0.7% quarter-on-quarter, maintaining the rate of advance of the last two quarters. This evolution continues to be supported by the dynamism of domestic demand, by the improvement of financial conditions and the labour market, and also by the positive contribution of the external sector … Continued
Economic Growth In Q4 2017, the Spanish economy grew by 3.1% year-on-year, reaching a nominal GDP of €1.16 trillion, and retains a favourable gap from the Eurozone average (2.7%). The domestic demand had a contribution of 3.2 points to this growth, 0.2pp more than in Q3 2017, while the foreign sector declined to -0.1 points, … Continued
Así está… the economy february 2018 Círculo de Empresarios from Círculo de Empresarios
SPAIN GDP flash estimate Q3 2017 (INE) In Q3 2017 the Spanish economy grew by 0.8% quarter-on-quarter (in comparison with 0.9% in Q2) and by 3.1% year-on-year, due to the increase in private consumption and investment, especially in the construction sector. The foreign sector gained momentum in a global environment with a more synchronized growth. … Continued
SPAIN Tourist movements (Frontur) Spain registered 57.3 million tourists in the first eight months of 2017 (9.9% more than in the same period of 2016). By country, the main countries of origin were the United Kingdom (13 million), France (8.4 million) and Germany (8.2 million). Labour (Ministry of Employment) September ended with 27,858 more unemployed … Continued
Así esta the economy September 2017 Círculo de Empresarios from Círculo de Empresarios
Asi estát he economy july 2017 Circulo de Empresarios de Círculo de Empresarios
Así está the economy jun 2017 Círculo de Empresarios from Círculo de Empresarios
SPAIN Advanced GDP 1Q 2017 (INE)) In the 1Q of 2017 the GDP grew by 0.8% quarter-on-quarter and 3% year-on-year. Employment April 2017 (Ministry of Employment and Social Security) In April the average affiliation to Social Security grew 1.18% to reach 18,122,222 employed persons. In year-on-year terms, there were 658,387 more affiliates (+3.77%), the best … Continued
SPAIN National Accounts 4Q 2016 (INE) In 2016 the Spanish economy grew 3.2% year-on-year, reaching a nominal GDP of 1.113trillion euros. In the 4Q, the GDP increased 0.7% quarter-on-quarter and 3% year-on-year (vs. 3.2% in the 3Q of 2016). The contribution of domestic demand to annual GDP growth in the 4Q was 2.2 points, three … Continued
SPAIN Employment January 2017 (Ministry of Employment and Social Security) Registered unemployment rose by 57,257 persons from December to reach 3,760,231, one of the lowest levels of the past seven years. In year-on-year terms, the number of people without work dropped by 390,524 (down 9.41%), the largest decline since 1999. In December there were 1,633,592 … Continued
SPAIN Employment December 2016 (Ministry of Employment and Social Security) Registered unemployment was reduced by 86,849 persons with respect to November, for a total of 3,702,974 unemployed persons, one of the lowest levels of the past seven years. In year-on-year terms, it dropped by 390,534 (-9.54%), the greatest drop since 1999 and a descent of … Continued
SPAIN Article IV consultation on Spain (IMF) The IMF considers that the recovery of the Spanish economy is solid and that its imbalances are being reduced. As a result the IMF has revised upwards its predictions for growth for 2016 and 2017 (3.2% and 2.3%, respectively). At the same time, it says there are some … Continued
