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Spanish economy 10th September 2026

Spain fails to close its 22-point productivity gap with Europe

Spain has spent nearly three decades without managing to converge in productivity with the most advanced European economies. Despite the economic growth and job creation recorded in recent years, the Spanish productive model continues to face serious difficulties in generating a sustained increase in value added per hour worked. This was highlighted by experts from the General Council of Economists of Spain (CGE) and the Foundation for Applied Economics Studies…

Spanish economy 8th September 2026

Spain: Housing prices rise by 12% annually, triple the rate of wage growth

According to data released by the National Statistics Institute (INE), the year-on-year variation in the Housing Price Index (IPV) moderated by 0.7 percentage points in Q2 2026, settling at 12.2% (down from 12.9% in Q1 2026). By property type, new home prices grew at an annual rate of 7.4% in Q2 2026, representing a 1.7 percentage point moderation compared to the previous quarter. Meanwhile, second-hand home prices rose by 12.9%…

Spanish economy 7th September 2026

Spain pays 2,000 million euros a month in unemployment benefits, up 22% from four years ago

Official figures indicate a drop in unemployment; however, rising wages—driven by higher contribution bases—the upward adjustment of maximum benefit ceilings set by law, and the impact of inactive discontinuous-fixed workers (fijos discontinuos) are driving up total expenditure on unemployment benefits. The cumulative bill between January and July—the latest available data—amounts to 14,695 million euros, representing an average monthly outlay slightly exceeding 2,000 million euros. As a result, over the first…

Spanish economy 4th September 2026

Volkswagen aims to phase out SEAT

The Volkswagen Group aims to close down SEAT, Spain’s only automotive brand, by the end of 2029. This move would involve phasing out the brand to focus exclusively on the premium Cupra brand, although the group does not appear to intend to close its Spanish subsidiary or the Martorell plant, which employs around 12,000 people. This was reported by the German business magazine WirtschaftsWoche, ahead of the Volkswagen Group Supervisory…

Spanish economy 3rd September 2026

Housing in Spain: the gap between asking prices and final sale prices stands at 29%

This difference serves as a solid indicator of the discount demanded in the market. Idealista.com, Spain’s largest property listing platform, projects the seller’s asking price—which is almost a wishlist—whereas notary records (notaries are always present at the closing of a deal) record the actual final price paid, which sits roughly 29% below the original listing price. According to the chart compiled by spainhousing.eu: Left axis (line): Housing price in euros…

Spanish economy 2nd September 2026

Spain: Unemployment rises by 44,419 people in August

According to official figures from the SEPE, unemployment rose by 44,419 people compared to July (+1.92%), reaching a total of 2,355,918 people. The year-on-year decrease stands at 70,593 people and is largely due to the extraordinary immigrant regularization process, which has mitigated the negative impact of the end of the summer season. The spike in unemployment affected all 17 autonomous communities, particularly Catalonia (+14,594), Madrid (+6,881), and the Valencian Community…

Spanish economy 1st September 2026

Spain reduces current account surplus from 3% to 2.3% of GDP

According to data from the Bank of Spain (BdE), Spain’s current account surplus fell to EUR 2,410 million in June, down from EUR 5,330 million in the same month of the previous year. The decline was mainly driven by a lower surplus in the goods and services account, which stood at EUR 3,280 million compared to EUR 6,170 million in June 2025. Meanwhile, the joint deficit of primary and secondary…

Spanish economy 31st August 2026

Spain: Retail sales drop for the first time since 2022

The National Statistics Institute (INE) reported that retail sales in Spain fell by 0.9% in July compared to June, a month in which they had rebounded by 0.3%. By distribution channel, e-commerce sales experienced the sharpest decline during the month (-2.5%). Excluding gas station sales, which dropped 4.4% in July, retail sales decreased by 0.6% month-on-month. By product category, food sales declined by 0.7%, while non-food products fell by 0.6%….

Spanish economy 26th August 2026

The average Social Security pension is now higher than Spain’s most frequent salary (€1,373)

This August, Social Security allocated a record €14.4704 billion to pay the standard monthly contributive pension payroll, a 6.2% increase compared to the same month in 2024, as reported this Tuesday by the Ministry of Inclusion, Social Security and Migration. This payroll includes the pension revaluation approved by the Government for 2026. Generally, the increase reaches 2.7%, matching the average CPI between December 2024 and November 2025. The average retirement…

Spanish economy 21st August 2026

Brussels approves Spain’s proposal to bid for one of the European AI gigafactories

The European Commission has approved the creation of a joint venture between ACS, Telefónica, Banco Santander, and SEPI Digital to bid for one of the seven European artificial intelligence (AI) gigafactories that the EU Executive plans to build. The Spanish project, backed by Portugal, features a dual location split between Móra la Nova (Tarragona) and San Fernando de Henares (Madrid). At the end of July, the EU announced the launch…

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