Spain

Relevant News Item 16th May 2025

Spain’s final April CPI confirmed at 2.2% year-on-year, 1/10 less than March, underlying rate at 2.4%

Bankinter | The final CPI for April confirms 2.2% year-on-year, one tenth below the previous month. The underlying rate confirms the rise to 2.4% year-on-year from 2.0% previously. In month-on-month terms, the general rate rose 0.6% (versus 0.1% previously) and the underlying rate rose 1.0% (versus 0.4% previously). Analysis team opinion: Moderate fuel and electricity prices contributed to the moderation of the overall CPI in April. However, the core rate…

Relevant News Item 7th May 2025

Almost 6.6 million international tourists visit Spain in March, 3.8% more than in same month of 2024

Link Securities | According to the Border Tourist Movement Survey (FRONTUR), Spain received nearly 6.6 million international tourists in March, 3.8% more than in the same month of 2024. The United Kingdom was the main country of residence for tourists arriving in Spain, with more than 1.2 million tourists in March and an increase of 3.6% compared to the same month in 2024. From Germany, 896,441 tourists arrived (down 1.4%)…

In Spain 2nd May 2025

Blackout in Spain reinforces case for investment in energy/electricity storage and backup generators

Natalia Luna (Columbia Threadneedle Investments) | Last Monday, Spain and Portugal suffered a major power outage that left both countries without electricity for around 12 hours. The blackout affected public transport, network services and hospitals, although some critical services were fortunately able to withstand the outage thanks to emergency generators. According to my research, this appears to be the worst blackout on record in Europe. Nationwide blackouts of this kind…

Spanish economy 14th April 2025

Fitch maintains Spain’s rating at A-, positive outlook and estimates GDP at +2.5% this year driven by domestic demand

Bankinter | Standard & Poor’s revises Italy’s rating upwards to BBB+ from BBB, stable outlook. The agency highlights the improvement in public finances and estimates a progressive reduction of the deficit in the coming years. Specifically, it anticipates that it will stand at 3.4% this year (compared to 7.2% in 2023) and that it will fall below 3.0% in 2027. It also anticipates a gradual improvement in economic growth. It…

Spanish Politics 10th April 2025

Spain to allocate extra €2.08 billion to Defence in 2024 by redeploying funds to Ministry contracts

Alphavalue/DIVACONS | Spain will allocate an additional €2.08 billion in 2024 to Defence by reallocating funds to Ministry contracts, in response to NATO pressure to meet the 2% of GDP target. Currently, Spain is the country with the lowest relative expenditure of the 32 members (1.3%). Although it had committed to reaching 2% by 2029, the government now says it will do so ‘as soon as possible’, without specifying a…

Spanish economy 20th March 2025

Spain’s trade deficit reaches €6.19 billion in January, Eurozone surplus €1 billion

Link Securities | According to data released by the Ministry of Industry, Trade and Tourism, in January Spain’s trade deficit increased to €6.19 billion, compared to €3.73 billion in the same month last year, reaching its highest level since October 2022. In January, exports fell by 1.2%, to €29.78 billion, weighed down by sharp contractions in the automotive sector (21.2%), energy products (15.0%) and capital goods (5.7%). Among the main…

In Spain 19th March 2025

Spanish public administrations’ debt at €1.630 trillion in January, up 2.8% year-on-year

Link Securities | Yesterday, Expansión newspaper reported that the debt of Spanish public administrations as a whole stood at €1.630 trillion in January, which represents an upturn of 2.8% in year-on-year terms. The amount is the second highest in the historical series, according to data from the Bank of Spain (BdE). In the last 12 months public debt has increased by €50,897 million, while in relation to the month of…

Spanish economy 7th March 2025

Spain receives 5.1 million international tourists in January, spending up almost 9%

CdM | In January, 5.1 million international tourists visited Spain, 6.1% more than in the same month last year, with total spending up 8.9% to €7.132 billion, according to data provided by the National Institute of Statistics (INE). The United Kingdom was the main country of residence, with 863,286 tourists and an increase of 3.6% compared to January 2024. 641,201 came from France (12.2% more) and 537,842 tourists from Germany…

In Spain 2nd March 2025

Industrial production prices in Spain rebound 2.6% annually against 2.3% previously due to 8.6% rise in energy costs

Link Securities | The National Institute of Statistics (INE) published on Wednesday that the Producer Price Index (PPI) rose in Spain by 0.4% in January in relation to December. During the month, the prices that contributed most to the rise in this variable were those of oil refining (up 5.8%) and those of gas production and distribution by pipeline of gaseous fuels (4.8%). On the contrary, the prices that most…

In Spain 15th December 2024

Spain: November final CPI confirms preliminary 2.4% year-on-year (vs. 1.8% previously), core at 2.4% (from 2.5% previously)

Bankinter: November final CPI confirms 2.4% year-on-year preliminary (from 1.8% year-on-year previous), Underlying also confirmed 2.4% year-on-year preliminary (from 2.5% previous). On a month-on-month basis +0.2% month-on-month for the headline rate and +0.1% for the Underlying. Analysis team’s view: The data confirm the preliminary data and also the pick-up in headline inflation in 4Q24, as expected and anticipated by the ECB, largely due to base effects from energy (electricity and…

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