macroeconomics

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Medium-sized companies leading the way in growth boosting productivity without cutting jobs or wages according to Afi Foundation

A study included in the Afi Emilio Ontiveros Foundation’s “Snapshot of the Spanish business landscape: in search of growth” indicates that the 100 companies that recorded the highest cumulative annual revenue growth between 2008 and 2024 generate 30 per cent more revenue for every euro invested in staff and have achieved record levels of profitability. Analysis by the Afi Foundation According to the 2026 update of the ranking of the…


May month Brexit

All pledges made by new Labour leader before moving into 10 Downing Street

Andy Burnham has promised to abide by the fiscal rules set out by Minister Rachel Reeves to reassure investors and prevent a sharp rise in debt, and not to raise income tax, National Insurance contributions or VAT. He is a staunch advocate of returning public control — though not public ownership — of water, energy and the railways, and maintains a more pro-European stance than Starmer. Analysis by Editorial Team…


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Spain leads eurozone wage recovery thanks to strong employment growth, according to Natixis CIB

Analysis by Natixis CIB In 2025, the eurozone experienced a slowdown in wage growth (both nominal and real), which reduced households’ purchasing power and limited their consumption capacity. According to our wage decomposition model, this slowdown in the eurozone masks highly divergent national realities. In Germany and Spain, wage growth remained robust, whilst in France and Italy there was a more pronounced slowdown. These contrasting trends call for an analysis…


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Climate risks could cost Spain up to 6.8% of its GDP

Reported by Alvise Lennkh-Yunus Long-term climate risks at the sovereign level are highly country-specific and depend on the scenario. Furthermore, forecasts point to a wide range of possible outcomes that reflect the uncertainty inherent in climate scenarios. In a recent study, Scope Ratings has estimated the economic impact of climate risks over a 30-year time horizon for EU countries and selected G20 sovereign issuers, arising from chronic physical risk, acute…


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Deutsche Bank’s growth figures for 2026: 0.7% for Germany compared with 2.6% for Spain

Reported by Julia Pastor Of the four major economies in the Eurozone, Germany will see the lowest growth in 2026 and Spain the highest, according to Deutsche Bank’s growth forecasts. 0.7% compared to 2.6%. Italy and France will both grow by 0.8%, and the Eurozone as a whole by 0.9%. Germany is the country for which the research firm has revised growth expectations downwards the most, as it is the…


strategic plan

The five threats to the global economy (and Spanish exports), according to Cesce

Reported by Consejeros Editorial Team Based on strategic realism, not pessimistic prophecy, and with the aim of providing Spanish companies with a tool to better understand the events that are shaking up the geopolitical, economic and commercial landscape, Cesce’s Country Risk Unit has produced a new edition of its International Outlook report, the eleventh. “Our country’s business community cannot be a mere spectator in a scenario such as the current…


oil demand

Crude oil risk premium set to persist for months, if not longer

By Libby Cantrill President Donald Trump is in the French Alps this week to attend the annual G7 leaders’ summit, where one of the main focal points will be the recent memorandum of understanding (MOU) between the United States and Iran. Although the details of the agreement have not yet been made public, it reflects a fragile truce – one that is politically welcome for Trump, whose approval ratings have…


empresas cierre disolucion

Company formations fall 2% and dissolutions rise 24.9%

Reported by Consejeros Editorial Team The number of commercial companies formed in Spain fell by 2% in April compared with the same month in 2025, whilst the number of companies dissolved rose by 24.9% year-on-year, according to data from the National Institute of Statistics (INE). In April, 11,558 commercial companies were formed, 2% fewer than in the same month of 2025. The subscribed capital for their incorporation recorded an annual…


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61% of Spanish companies experiencing payment delays due to customers’ liquidity problems

And most companies are pessimistic about the trend in insolvencies over the coming months, according to Crédito y Caución’s Payment Practices Barometer. Specifically, 70% expect default levels to remain high and 16% anticipate a worsening, By Consejeros Editorial Team Crédito y Caución has just published the Spanish Payment Practices Barometer, compiled with the participation of over 200 companies from various sectors. 61% of the companies surveyed report experiencing payment delays,…


dollars

Liquidity is slowing, posing a short-term risk

By Morgan Stanley According to Morgan Stanley, “Liquidity is slowing and poses a short-term risk. Although the Fed (USD 40bn/month through the RMP programme), the Treasury (USD 125bn in buybacks) and the reduction in capital requirements for banks (USD 200bn) have significantly boosted liquidity in Q1 … this momentum is slowing … with the RMP being reduced to USD 10bn/month and Treasury buybacks moderating. This, coupled with China also aggressively…