Spanish economy

immigrants working

Spain is the only major Eurozone economy losing productivity since 2018, despite NextGen funds

According to the latest estimates from the International Monetary Fund (IMF) released this week in Bangkok, Spain is the only major Eurozone economy that has lost productivity since 2018. Its calculation is that Spain will have lost one-tenth of a percentage point in the 2018–2027 period, which coincides with Pedro Sánchez’s term in government. Productivity is the key indicator for increasing a country’s GDP per capita, raising wages without losing…


spain housing market special

Government caps rents at 2% as inflation approaches 5% and allows tenants to stay for up to ten years

Government has approved a rent reform that caps rent increases at 2% in an effort to control prices. This comes on the same day it was revealed that inflation is approaching 5% due to the “change in economic scenario” caused by rising fuel costs across the economy. On one hand, prices are skyrocketing well beyond expectations; on the other, rent controls penalize around 1.3 million small landlords, who will have…


inflation board

Inflation in Spain surges to 4.9% in September

The advance indicator of the Consumer Price Index (CPI) published by the INE sets annual inflation at 4.9% in September, six-tenths higher than in August. Core inflation—which excludes energy and unprocessed food—also increases to 3.1%, confirming that the price rise is structural and affects the daily shopping basket. The HICP, the index comparable at the European level, reaches 5.0%. According to the INE, this surge is mainly explained by the…


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New Record: 50.4% of the Spanish Stock Market is Owned by Foreign Investors

International investors consolidate their position as the largest owners of the Spanish stock market, reaching a new historic high, while retail households regain part of their lost ground. These are some of the main conclusions of the BME Report on the Ownership of Listed Spanish Shares, prepared by the BME Research Department using data as of year-end 2025 and, for institutional investment, as of June 2026. The stake of international…


Exports

Spain: Trade deficit grows by 30%, reaching EUR 38,000 million

Exports of goods reached EUR 35,454 million in July, its highest historical figure for the month of July, after growing 3% year-on-year, while imports rose by 5.8% year-on-year to EUR 40,678 million, also a record figure for a month of July. As a result, Spain’s trade deficit stood at EUR 5,224 million in July, compared to the EUR 4,010 million deficit generated in the same month of the previous year….


spain savings rate

Net foreign investment in Spain falls by -40% in the first half of the year to 3,407 million euros.

Net foreign investment in Spain falls by -40% in the first half of the year to 3,407 million euros. Gross investment increases by +31.3% to 12,446 million euros, but divestments grow by +171% to 9,038 million euros. According to Bankinter’s team of analysts, this is the worst figure since the 2012 crisis. In 2025, net foreign investment had already fallen by -19% to 20,060 million euros. The United States remains…


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Spanish public debt grows at 3.8%, faster than GDP, but runaway inflation reduces it to 99.9% of GDP

According to data from the Bank of Spain (BdE), public administration debt stood at 99.9% of GDP in July, 2.4 percentage points lower than a year earlier, dropping below 100% for the first time since February 2020. In absolute terms, the debt balance rose to EUR 1.744 trillion, a 3.8% increase year-on-year, although it decreased from the EUR 1.763 trillion reached in June. By level of government, central government (State)…


housing overvalued

Housing crisis? INE asserts that “building construction” is falling by 40% year-on-year

According to the National Statistics Institute (INE), construction output, adjusting for seasonal and calendar effects, fell in Spain by 0.3% in July compared to June. In June, this variable had dropped by 0.7%. Of the three divisions analyzed, only building construction posted a negative monthly rate (-1.4%). On the other hand, specialized construction activities recorded the largest increase in July (+2.0%). In year-on-year terms, construction output—adjusted for seasonal and calendar…


Global debt

Spanish 10-year bond yield breaks the 4% barrier, reaching levels not seen since 2013

Following the interest rate hike in the eurozone—when the ECB raised its official rate by 0.25 percentage points to 2.5% last Thursday—eurozone debt has begun its ascent. Consequently, the yield on Spanish 10-year sovereign bonds has pierced the psychological 4% threshold for the first time since 2023, hitting levels last seen in 2013. Specifically, the Spanish 10-year bond rose to 4.022% around 4:45 p.m. this Monday, trading near 2013 highs….


Ibex 35

Spanish stock market: 41 stocks rated Buy and 6 rated Sell according to the September Market Consensus

Patrivalor | According to the September market consensus, there are currently 41 stocks with a buy recommendation (scored between 1 and 2 points), compared to 44 at the close of 2025. The recommended stocks are: Inditex, Amadeus, IAG, Cellnex, Logista, Almirall, Puig Brands, Cirsa, Neinor, Faes, Pharmamar, DIA, Atresmedia, Aedas, Arcelor, Repsol, Acerinox, Cie Automotive, Vidrala, Indra, Técnicas Reunidas, Ence, Tubacex, Ferrovial, Merlin Properties, FCC, Inmobiliaria Colonial, Sacyr, OHLA, Iberdrola,…