GDP

In Spain 19th December 2024

Spain increases public debt by 3.4% annually (55 billion) to raise GDP by 3%

According to data from the Bank of Spain (BdE), the total debt of the Spanish Public Administrations closed October at €1,628,243 million, €7,873 million less than in September. In relation to October 2023, the debt increased by €54,954 million. The majority of the debt was concentrated in the State, with €1,480,032 million, €10,067 million less than a month earlier. Meanwhile, the debt of the Autonomous Communities closed October at €334,210…

In Europe 9th December 2024

Eurozone GDP grows 0.4% in Q3 2024

The Gross Domestic Product (GDP) of the Eurozone expanded by 0.4% in Q3 2024 compared to the previous quarter, in line with its preliminary reading and marking its highest quarterly growth rate in two years, following the 0.2% increase in Q2 2024. Household consumption (+0.7%), the rise in gross fixed capital formation (+2.0%), and inventories were the largest contributors, with public spending also recording an increase (+0.5%). On the other…

Over 90% of foreign companies in Spain expect to increase or maintain their investment in 2020

In Spain 19th September 2024

INE Revises GDP Growth for umpteenth Time and Increases 36 Billion for 2023

The umpteenth retrospective revision of Spain’s growth data released this Wednesday by the National Statistics Institute (INE) has once again improved the picture for the years 2021, 2022, and 2023, and has rescued €36.4 billion of last year’s GDP that the initial measurement had not detected, therefore raising the real economic growth for 2023 from 2.5% to 2.7%. According to this new statistical correction, the National Gross Domestic Product approached…

World economy 29th April 2024

US GDP rises 1.6% between January and March, boosted by services consumption

Intermoney| As expected, imports subtracted from GDP, which was expected given the trade deficit. The trade drag took 0.86 p.p. off the growth rate. Paradoxically, strong imports reflect solid consumer demand, but they also detract from overall GDP growth. That is the trade-off. Net exports only grew by +0.9% quarter-on-quarter, which shows that a strong dollar seems to put some pressure on exports. Also note that inventories built up at…

European economy, In Europe 6th November 2023

Euro area aggregate GDP falls by one-tenth of a percentage point in 3Q23, highlighting credit tightening

Intermoney| Euro area aggregate GDP fell by one-tenth of a percentage point in 3Q23, highlighting the transmission of tighter credit conditions. But we should not magnify the stumble of the aggregate if we take into account that Germany, which accounts for 30% of GDP, fell by -0.3% q/qtr. However, we see a series of favourable factors for the EMU countries’ economies to hold up at moderate rates over the coming…

Spanish economy 22nd June 2023

Spain recovers pre-Covid GDP

Miguel Navascués| Although domestic demand has been in decline for two quarters, the recovery in tourism (whose revenues grew 38% year-on-year in 1Q23) and exports (+14%) have finally allowed Spain to recover its pre-Covid GDP in 2Q23. It is the last eurozone country to achieve this (while neither the Czech Republic nor Japan have yet done so) two years later than the average of the 19 most significant euro countries….

Spanish economy 8th June 2023

OECD raises economic forecasts for Spain: 2.1% in 2023, 1.9% in 2024

BancaMarch: The Paris-based organisation expects Spain to grow by 2.1% in 2023, improving its forecast for the country by up to four tenths of a percentage point compared to the previous report and in line with the government’s expectations. Looking ahead to 2024, the OECD also raises its forecasts, from 1.7% to 1.9%, although here it is below the executive’s forecast (+2.4%). With these forecasts, Spain will be the large…

In Spain, Relevant News Item, Spanish economy 30th May 2023

Fitch maintains Spain’s rating at A- with a stable outlook and revises 2023 GDP growth forecast upwards to 1.9%

Bankinter : Fitch maintains Spain’s rating at A- with a stable outlook. Fitch has revised the expected growth for 2023 upwards to 1.9% year-on-year (+0.7pp) reflecting “buoyant recovery in tourism and rising public sector investment. This has offset the weakness in private consumption, which recorded a second consecutive quarterly decline”. It projects a reduction in Public Debt/GDP to 110.4% by December 2024, “driven mainly by nominal GDP growth while primary…

Relevant News Item 17th May 2023

Eurozone GDP grows 0.1% in seasonally adjusted data in 1Q2023 compared to 4Q2022

Link Securities | According to the second estimate of the data, released yesterday by Eurostat, the Eurozone’s Gross Domestic Product (GDP) grew 0.1% in seasonally adjusted data in 1Q2023 compared to 4Q2022. In 42022 GDP had been stable in the Eurozone (0.0%). The reading was in line with the FactSet consensus of analysts. Compared to the same quarter of the previous year, seasonally adjusted GDP in the Eurozone increased by…

Spanish economy, Spanish Politics 18th April 2023

Spain to finally recover pre-Covid GDP by end of this year

Funcas expects the Spanish economy to reach the level of activity prior to the pandemic at the end of this year after growing by 1.5%, five tenths more than forecast in January, in a year that will go from strength to weakness and which represents a clear slowdown compared to the 5.5% recorded in 2022, according to the CEO of the Funcas think tank, Carlos Ocaña, and the director of…

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