In September, 85,167 new passenger cars and SUVs were registered in Spain, a 16.4% increase compared to September 2024 and 4.2% more than in the same month of 2019, according to Ideauto data for the Spanish Association of Automobile and Truck Manufacturers (ANFAC). Furthermore, September was the first month since the COVID-19 pandemic in which total sales surpassed the figures for the same month in 2019 (81,746 units that year)…
According to data from the Bank of Spain (BoE), the debt of the Spanish public administrations as a whole, under the Excessive Deficit Procedure, stood at €1.691 trillion at the close of the second quarter of this year, its highest level in history. Relative to Spain’s Gross Domestic Product (GDP), the debt stood at 103.4%, the same level as in the first quarter of 2025. In absolute terms, Spain’s public…
On an annual rate, Spain’s CPI (Consumer Price Index) rose by 2.9% in September (up from 2.7% in August), a reading slightly below the consensus expectation of a 3.0% increase. This places inflation at its highest level in seven months. This development is mainly a result of fuel and electricity prices falling less this month than they did in September 2024. Meanwhile, core inflation, which excludes the prices of unprocessed…
The credit rating agencies Moody’s and Fitch have also improved Spain’s sovereign rating, following S&P’s move two weeks ago to raise it to ‘A+’ with a stable outlook—after six years without changes. Specifically, Moody’s raised Spain’s rating this Friday from ‘Baa1’ to ‘A3’ with a stable outlook, thanks to the country’s “economic strength” improving due to more “balanced” growth, the recovery in the labour market, and the strengthening of the…
On September 1, 2014, Pedro Sánchez announced that the PSOE (Spanish Socialist Workers’ Party) would hold a convention on democratic renewal in which, among other measures, his party would propose limiting the terms of Prime Ministers to two legislatures, a maximum of eight years. This initiative was intended to “banish the old politics of always.” It followed the self-imposed term limits of José María Aznar—who chose not to continue after…
Bankinter | Home sales in Spain were up 13.7% in July (year-on-year) versus 17.9% in June, to 64,730 units. The cumulative total for 2025 is 18.6%. Bankinter analysis team’s view: Good news. Transactions are growing strongly, supported by lower mortgage financing costs and with the impact of tariffs on the Spanish economy still very moderate. We are revising our estimates for housing transactions upwards to 10% in 2025 (against a…
Iberdrola plans to invest €50 billion until 2028, to which it will add another €8 billion from alliances with its partners, totaling €58 billion. This represents a 40% increase over the €41 billion plan presented a year ago, as detailed this Wednesday in London during the update of its strategic plan, where it underscored its commitment to the US and UK markets. The company also anticipates investments of over €45…
CdM | Exports grew by 3.5% year-on-year in July, reaching €34.419 billion, an all-time high for this month, according to customs trade data collected in the Monthly Foreign Trade Report of the Ministry of Economy, Trade and Enterprise, prepared by the Secretary of State for Trade. This is the third consecutive month of growth. The sectors with the largest positive contributions to the annual rate of change in exports (3.5%)…
Banco Sabadell | Both energy companies are reportedly pressuring Minister Carlos Cuerpo to intervene with the National Commission on Markets and Competition (CNMC) and modify the proposed remuneration for electricity networks. Thus, although the CNMC’s current proposal for a financial remuneration rate of 6.46% would exceed the current legal maximum of 5.58%, the law allows this limit to be exceeded for justified reasons and with an express report from the…
Yesterday, with the Prime Minister at the United Nations General Assembly in New York, Spanish politics experienced another grotesque day. In the Congress of Deputies, the government saw its initiative to delegate immigration powers to Catalonia fail. This was one of the many concessions the PSOE has been forced to make to try to maintain the support of Junts, a “traditionally right-wing” party that offered its support to Sánchez so…