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Spanish economy

Spanish economy 24th September 2025

BBVA’s Sabadell takeover bid, a matter of price or competition?

Aurelio Medel (5 Días) | The Catalan bank entangles the government and the community’s establishment with its commercial importance and now says it’s a matter of price. The hostile takeover bid launched by BBVA for Sabadell is a case study that could address various aspects, such as the actions of governments and regulators, boards of directors, or the different communication strategies of both entities. But when you analyze the details…

In Spain, Spanish economy 22nd September 2025

Spanish industrial turnover slows in July to 1.9% growth, service sector to 4.7%, both 1.7 points below June

CdM | In July, industrial turnover rose by 1.9% compared to the same month last year, while the service sector increased by 4.7%. In both cases, the rate is 1.7 points lower than the previous month, according to data from the National Statistics Institute (INE). Thus, industry sales have seen two months of year-on-year increases, and service sector sales have seen 16 consecutive months of positive year-on-year rates. In terms…

Spanish economy 22nd September 2025

BBVA changes offer for Sabadell, now to be entirely in shares

BBVA announced that its Board of Directors has decided to modify the terms of the takeover bid (OPA) for Banco Sabadell by improving the consideration offered. The previous offer (one BBVA ordinary share and €0.70 in cash for every 5.5483 SAB ordinary shares) will be changed in nature and will now be entirely in newly issued BBVA ordinary shares. The new exchange ratio will be one BBVA ordinary share for…

In Spain, Spanish economy 18th September 2025

Spanish public debt moderates to 102.3% of GDP in July compared to a year ago, at €1.68 trillion

CdM | In July, public administration debt moderated its weight on gross domestic product (GDP) to 102.3%, a decrease of 1.9 percentage points compared to a year earlier. In absolute terms, it stood at €1.68 trillion, with a year-on-year growth rate of 3.9%, according to data from the Excessive Deficit Protocol published by the Bank of Spain. By subsector, central government debt stood at €1.525 trillion, with a year-on-year increase…

Spanish economy 15th September 2025

Spain’s CPI rises to 2.7% year-on-year in August

Although consumer prices (CPI) remained unchanged in Spain in August compared to July, according to the final data released by the National Statistics Institute (INE), Spain’s year-on-year CPI increased by 2.7% through August, the same rate as in July. In August, the group that stood out most for its positive influence on the increase of the year-on-year CPI growth rate was transport prices, whose year-on-year rate rose one point to…

In Spain, Spanish economy 12th September 2025

Industrial production in Spain falls 0.5% in July; capital goods experience greatest contraction, 3.6%

Link Securities | The National Statistics Institute (INE) reported that industrial production in Spain fell by 0.5% in July compared to June, according to seasonally and calendar-adjusted data. By sector of activity, in July, the production of durable consumer goods rose the most (1.3%), while capital goods experienced the greatest contraction (3.6%). In year-on-year terms, in seasonally and calendar-adjusted data, industrial production rebounded in July in Spain by 2.5% (1.9%…

Spanish economy 11th September 2025

Europe has gas but doesn’t exploit it, “because we are sustainable, so we commit to buying it from the US. A fantastic exercise in continental hypocrisy,” explains Repsol CEO

Europe has significant gas fields in the Netherlands, the North Sea, Poland, and Spain, but they are not exploited. “We say we don’t do it because we are sustainable, and then we make a commitment to buy it from the US, which is a fantastic exercise in continental hypocrisy,” says Repsol’s CEO, Josu Jon Imaz. This is because “these products are then imported, increasing carbon dioxide (CO2) emissions in the…

In Spain, Spanish economy 10th September 2025

Labour cost per hour worked in Spain up 3.8% in Q2 2025

Link Securities | According to the Harmonised Labour Cost Index (ICLA) published by the National Statistics Institute (INE), the labour cost per hour worked increased by 3.8% in Spain in Q2 2025 compared to the same period last year (up 3.7% in Q1 2025), in seasonally and calendar-adjusted figures. In unadjusted data, the year-on-year change in the cost per hour was 5.4% (up 1.9% in Q1 2025). In turn, wage…

Spanish economy 8th September 2025

BBVA’s Sabadell Bid Begins Today with Offer That Represents 8% Loss for Shareholders

Today, the acceptance period for the takeover bid for Banco Sabadell finally begins. BBVA announced the bid on May 9, 2024, after Sabadell’s board rejected the Basque bank’s friendly offer. In the year and a half since, BBVA has had to secure approval from the Spanish National Markets and Competition Commission (CNMC)—which imposed tough conditions to ensure competition—the Government—which has forbidden the Basque bank from merging for three years, thus…

In Spain, Spanish economy 1st September 2025

CPI in Spain remains at 2.7% in August, but core inflation rises 1/10 of a percentage point to 2.4% thanks to lower food and electricity prices

CdM | The Consumer Price Index (CPI) remained at 2.7% year-on-year in August, thanks to food and electricity prices offsetting fuel prices, according to data released on Friday by the National Statistics Institute (INE). The stability of the year-on-year CPI in the eighth month of the year slows down the rise in the inflation rate experienced during the previous two months. The agency explained that the CPI remaining at 2.7%…

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