The proximity of the regional elections in Catalonia, due to take place at the end of this month, combined with the uncertainty over the results of this process and its consequences, is leading foreign and many domestic investors to reduce their exposure to the Spanish stock market.
Consumer confidence in Spain rose to a record high of 105.9 in August from 105.6 in July, due to the improved evaluation of the situation affecting households and the labour market.
By Félix Lores Juberías and Ignacio San Martín at BBVA Research | Housing sales, which grew by approximately 8%, were shored up by increased lending, the upturn in employment and better consumer confidence.
Household debt declined 1.2% to 733.24 billion euros in July compared to June, reaching August 2006 levels, according to the Bank of Spain.
As usually happens in the month of August, unemployment in Spain rose due to the end of the summer season. The jobless rate climbed by 21,679 people and social security affiliations declined by 134,289. But the unemployment rate decreased by 8% on a year-on-year basis.
Operating conditions continued to improve in August, according to the latest Markit PMI survey. Output grew to a 3-month high, yet new orders rose at levels of 2013.
Economic sentiment improves in Spain thanks to industry, services and construction.
Spain’s annual GDP growth accelerates to 3.1% thanks to consumption uptick.
Spain’s international tourist arrivals data continues to beat records, with 38 million visitors in the January-July period.
LA CAIXA RESEARCH | Spain will need higher surpluses in the balance of trade of goods and services if it wants to lower its net debt position.