BBVA Research | At the end of the year, the Spanish economy could register three quarters in a row of 0.4% growth t / t, below the growth observed since the beginning of the recovery (0.7% t / t, on average). In this context there is a stabilization of job creation, a volatile composition of demand and low inflation.
Círculo de Empresarios | The Bank of Spain forecasts that the Spanish economy will embark on a gradual path of deceleration until 2022, and therefore maintains its 2% and 1.7% annual growth forecasts for 2019 and 2020, respectively. GDP growth rests on the back of positive evolution of domestic demand owing to the healthy wealth situation of households and companies, and a monetary policy that is accommodative. In contrast, the external sector loses dynamism as growth in exports is less than imports in an environment rife with global uncertainty.
Joan Tapia | The latest data indicate that the economic slowdown in Spain is showing some signs of reversing. That is, the slowdown is slowing down and that the economic situation in the coming months may be somewhat better than expected by some of the most pessimistic analysts. The misfortune is that this slight recovery of economic optimism has no correspondence in the political field, as the result of the 10-N elections and the subsequent movements of the parties indicate a very difficult governance.
The bank debt of families and non-profit institutions resident in Spain fell 0.25% in October compared to the previous month, with a reduction of 1.728 billion euros, to 702.036 billion euros, which records its level lowest since February 2018.
Foreign companies’ assessment of the business climate in Spain has remained unchanged since last year. Specifically, the business climate in Spain scored an average of three out of five, according to the “Barometer of the Business Climate in Spain from the Foreign Investor’s Perspective”, prepared jointly by ICEX-Invest in Spain, Foreign Multinationals for the Spain brand and the IESE.
C. Ocaña and R. Torres (Funcas) | After several years of recovery, Spain housing market shows signs of deceleration, opening a debate about whether this is the prelude to the outbreak of a new bubble. At present there is no real estate bubble in Spain and, therefore, the effects of the slowdown in the real estate sector itself and in the rest of the economy will be limited. In other words, in the current scenario, an adjustment can be expected but not a “flat tire” of the real estate sector.
Julia Pastor | Chairman and Owner with 90% of the capital of the Spanish energy firm Audax Renovables José Elías regrets that the whole industry has made a terrible mistake. “We were able to generate all that photovoltaic energy and we were able to develop an industry around that, but we screwed up, ruining a lot of citizens. We could not have acted worse,” he reckons.
Círculo de Empresarios | In Q3 2019, the Competitiveness Trend Index 1of Spain fell by 0.8% in comparison to the EU-28. This confirms that, since January, the competitiveness via prices of the Spanish economy has improved due to the moderation of the CPI (0.1% interannual in October).
BancaMarch | The European Commission warns that Spain is moving away from the adjustment path and asks for measures that compensate the alignment of pensions with prices.
In October, car registrations in Europe reached 1.21 million units, representing an increase of 8.6% year-on-year.