The Spanish Economy
- Weekly Economic Bulletin (August 29, 2014)
Short term auction: 26 August 2014 (August 26, 2014 - pdf 125 KB)
3-month Letras: €1.1bn allotted, 3.18 bid-to-cover, 0.032% weighted average rate. 9-month Letras: €2.4bn allotted, 2.29 btc, 0.107%.
Long term auction: 7 August 2014 (August 07, 2014 - pdf 130 KB)
Jan-20: €1.18bn, 3.20 BTC, 1.422%. Oct-24: €1.96bn, 2.12 BTC, 2.686%. After today's auction the Treasury has completed over 77% of its regular funding programme for the year.
Markit Services PMI. July 2014 (August 05, 2014)
Fastest rise in new business since November 2006. The headline SA Services PMI Index rose to 56.2 in July from 54.8 in June to signal a faster increase in activity at Spanish services companies during the month. The sharp expansion in activity extended the current sequence of growth to nine months.
Labour Market: registered unemployment. July 2014 (August 04, 2014)
Registered unemployment decreased by 29,841 in the month of July (-0.67%, m/m). The y/y change in unemployment shows a decrease of 281,478 persons (-5.94%).
Markit Manufacturing PMI. July 2014 (August 01, 2014)
Output growth remains solid, despite easing from June’s 50-month high. The seasonally adjusted PMI index posted 53.9 in July from 54.6 in the previous month. Operating conditions have now strengthened in each of the past eight months.
GDP Q2-14 (flash estimate) (July 30, 2014)
In Q2-14 Spain’s GDP q/q growth accelerated to 0.6%; 0.2pp more than in the previous quarter. The y/y GDP change in Q2-14 was 1.6%.
Labour market: Economically Active Population Survey (EAPS) Q2-14 (July 24, 2014)
In Q2-14, employment increases by 402,400 persons. In the last 12 months, employment increases by 192,400 persons , the y/y change in employment was +1.12%; the first positive rate since Q2-08. The number of unemployed persons decreases by 310,400 in Q2-14.
Consumer Price Index (CPI). June 2014 (July 11, 2014)
The y/y change of the June CPI index was +0.1% vs. +0.2% in May. Core CPI remains at 0.0% y/y. In June the harmonized consumer price index (HICP) decreased 0.2pp to +0.0% y/y.
Inflation-linked auction (July 10, 2014 - pdf 130 KB)
First auction of Spain's 10-year European inflation-linked benchmark bond: amount allotted €1bn, 3.7 bid to cover ratio, 1.459% weighted average rate. The Spanish Treasury has already completed 71.7% of the medium- and long-term funding programme for the year.
Council of the EU: Spain Country-specific Recommendations 2014 (July 08, 2014)
The Council issued on 8 July recommendations and opinions on economic, employment and fiscal policies planned by the member states. The Council thereby concluded the current European Semester after the recommendation of the European Commission on 2 June and the conclusions of the European Council on 27 June.