CdM | Retail sales in November rose by 3.7% year-on-year, which is seven tenths of a percentage point below the previous month’s rate, according to data provided by the National Statistics Institute (INE). This marks the 17th consecutive month of growth in turnover. At constant prices, adjusted for seasonal and calendar effects, retail sales in November were up 6% on the same month last year. This rate was 2.1 points…
With the aim of mobilizing the one trillion euros that Spaniards hold in deposits and savings accounts, the Government has opened a public consultation on the conditions for the European Savings and Investment Account in Spain and the “Finance Europe” label. The European Savings and Investment Account—SIA (Savings and Investment Account)—aims to channel “idle” European savings, roughly 13 trillion euros held by savers in their accounts, toward stock and bond…
Banc Sabadell | Gas and electricity suppliers and oil companies will have to contribute €1.871 billion to the National Energy Efficiency Fund (FNEE) in 2026, which represents an 83% increase compared to 2025, according to press reports. Of the listed companies, Repsol will make the largest contribution (€440 million), followed by Endesa (€223 million), Iberdrola (€163 million) and Naturgy (€161 million), representing 52% of the estimated contribution between the four….
The unemployment rate for people over 55 stood at 9.8% in 2025, 0.4 percentage points higher than the rate recorded for the over-25 age bracket. Historically, this age group has shown lower levels of unemployment than the rest of the workforce, according to the latest analysis by the BBVA Foundation and the Valencian Institute of Economic Research (Ivie) in their publication Esenciales, which tracks trends since 1980. However, this barrier…
Singular Bank | According to the INE, in Q3 2025, our country’s GDP moderated its growth rate slightly to 0.6% in quarterly terms, after standing at 0.7% between April and June. Meanwhile, in year-on-year terms, the pace of growth in Spanish economic activity slowed by 0.1 pp to 2.8%, its lowest rate in almost two years. This trend can be explained by the moderation of the year-on-year contribution of final…
By Gloria Hervás (Global Head of Public Policy, Banco Santander) | I have been working in banking for nearly 25 years, and I have experienced the debate over European financial integration firsthand—even before the complicated months leading up to the 2008 financial crisis. I still remember how doubts regarding the solvency of one part of the financial sector dragged down the industry as a whole, and how this fed into…
The Spanish trade deficit increased in the first ten months of the year (10M2025) to €45,799.5 million, a 47.6% increase compared to the same period in 2024 (€31,023.1 million), driven by a strong surge in imports. According to trade balance data published this Monday by the Ministry of Economy, Trade and Business, Spanish exports rose by 0.8% between January and October, reaching €324,772.7 million; however, the rebound in imports was…
These are the first elections of the new electoral cycle after 2 years without polls in Spain, and the results confirm what the surveys predicted: The PP will continue to govern in Extremadura after achieving 43% of the vote and 29 seats (up from 28). Meanwhile, the PSOE collapses (dropping from 28 seats—equal to the PP’s previous count—to 18), and the fringes on both sides are rising: the right (Vox…
The World Travel & Tourism Council (WTTC) announced this Thursday its decision to relocate its headquarters from London (United Kingdom) to Madrid, following a selection process among several candidates, including Geneva, Milan, Paris, and Dubai. This decision was unanimously supported by the 17 members of the international organization’s executive committee, based on evaluation criteria across six areas, such as rental costs, tax environment and incentives, government support, and proximity to…
Link Securities | In Spain, the number of mortgages taken out on homes in October was 52,198, representing a 0.6% year-on-year increase (12.2% in September). According to the INE, with October’s year-on-year increase, the signing of mortgages on homes has now risen for 16 consecutive months. In addition, the average amount of these transactions was €167,080, representing an increase of 10.4%. In 10M25, the number of mortgages for the purchase…