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
SPAIN Growth After Ireland, Spain is the OECD country whose economy is growing the most. Domestic and international predictions calculate this growth at 3.2% in 2016 and at around 2.4% in 2017 (Eurostat and FUNCAS). Labour market, October 2016 (Ministry of Employment) Unemployment is at its lowest levels in the past seven years. It is now … Continued
Spain continues to grow faster than the average in the Eurozone, whose GDP grew 0.6% in inter-quarterly terms and 1.6% with respect to the 1Q 2015.
SPAIN 2015 regional GDP In 2015, the average rate of economic growth in Spain’s regional communities was 3.2%, but three of them grew at an even higher rate: Valencia (3.6%), Madrid (3.4%) and Catalo-nia (3.3%). By contrast, Cantabria (2.6%), Aragón (2.7%) and the autonomous city of Melilla (2.7%) registered the lowest rates of growth. Overall, … Continued
SPAIN National Accounting 4Q 2015 (INE) During the fourth quarter of 2015 the Spanish economy grew 0.8%, and 3.5% year-on-year. For 2015 as a whole, the nominal annual progress was 3.8% and the real advance was 3.2%. The GDP in current prices reached 1,081,190 million euros. The contribution of the domestic demand to annual growth … Continued
SPAIN Labor Force Survey 4Q 2015 (INE) Reducing unemployment The year 2015 ended with 4,779,500 people out of work (20.9% of the active population), which was 678,200 fewer people than a year ago. In the 4Q unemployment dropped by 71,300 persons.
SPAIN Exports, January-September 2015 Exports of merchandise to September reached 186,261.1 million euro, with an increase of 4.4% year-on-year (Ministry of the Economy). Imports also increased, 3.9%, to 204,903.1 million euro, thus confirming the recovery of internal demand. The trade deficit was reduced by 1.1% (to 18,642 million euro). The non-energy balance had a surplus of 2,034.1 million euro (vs. 10,704 million the … Continued
In the active population survey for the third quarter of 2015, Spain’s employment rate among the total population of more than 16 years reached 46.9% and the total number of employed workers was 18,048,700, following a 1.02% quarterly increase (+182,200 = 152,100 in the private sector and +30,100 in the public sector). The annual progress … Continued
SPAIN Accounting Q2 2015 – INE In the Q2, GDP increased 1% quarterly and 3.1% year-on-year, essentially because of internal demand (3.3). Spending on household consumption increased 3.5% year-on-year, similar to the Q1, because of increased employment (2.9%, or 477,000 new jobs) and greater family disposable income (because of a drop in the price of … Continued
SPAIN Unemployment, hiring and Social Security affiliation In June, unemployment dropped for the fifth consecutive month, by 94,727 persons, to a total of 4,120,304 persons, the smallest drop in a month of June in the last three years. This drop was generalized, with the excep-tion of a 3.6% increase (7,027 personas) in agriculture. Among people … Continued
SPAIN Growth Quarterly National Accounts (INE) In the 1Q of 2015 the Spanish economy experienced its greatest annual advance since 2007: 2.6% (2% 1Q 2014), thus linking six positive quarters. The quarter-on-quarter rate rose 0.9% (0.7% 4Q 2014). This recover is based on greater private consumption, improved expectations and better financial conditions, and the drop … Continued
SPAIN Outlook for growth The Bank of Spain has upped by eight-tenths of a point its outlook for GDP growth for 2015: up to 2.8%, thanks mainly to the correction of imbalances and the improve-ment in the macro-financial climate of the Spanish economy. Other reasons for the rise: A drop in the price of crude … Continued
