The Spanish Economy
Spanish Economy Report (October 2014) (November 20, 2014)
The Spanish Economy: recent developments and prospects,
International Trade Report - September 2014 (November 17, 2014 - pdf 789 KB)
In September 2014, real exports incresed by 8.1% y/y and real imports increased by 11.5% y/y. Spain’s trade balance registered a deficit of €2.37bn, down from €2.59bn in September 2013. The export/import coverage ratio reached 89.9%, 1.7 p.p. higher than in the same month of 2013.
- Weekly Economic Bulletin (November 14, 2014)
Consumer Price Index (CPI). October 2014 (November 13, 2014)
The y/y change of the October CPI index was -0.1% (up from -0.2% in September). Core CPI stood unchanged at -0.1% y/y in October. The harmonized consumer price index (HICP) increased 0.1pp to -0.2% y/y.
Industrial Production Index (IPI). September 2014 (provisional) (November 07, 2014)
In September, the m/m change of the Industrial Production Index stood at 0.5% (SA). The yearly change of the IPI stood at +1.0% in SA terms and at 3.6% in the original series.
Investors Newsletter (November 07, 2014 - pdf 380 KB)
This is the first issue of the Spanish Treasury’s Newsletter. This newsletter intends to keep investors informed about the most recent developments in the Spanish Economy. The Newsletter is designed as a regular complement to the Investor Presentation. This particular issue of the newsletter covers: recent economic indicators, update on the funding of the Treasury, labour market developments, review of the SSM's comprehensive assessment, focus on Statistics (changes introduced by ESA 2010), and a data release calendar.
OECD: Economic Outlook November 2014 Spain - Advance G-20 Release (November 06, 2014)
The OECD improves its GDP growth forecast for Spain to 1.3% for 2014; to 1.7% for 2015 and to 1.9% for 2016.
Long term auction: 6 November 2014 (November 06, 2014 - pdf 135 KB)
Auction results: Oct-17, €1.04bn allotted, 4.05 bid to cover, 0.692% weighted average rate. Oct-23, €806m allotted, 3.35 btc, 1.931%. Oct-24, €1.18bn allotted, 2,98 btc, 2.123%. The Treasury has completed 96.6% of its medium- and long-term funding programme for the year.
Markit Services PMI. October 2014 (November 05, 2014)
The headline SA Services PMI Index posted 55.9 in October from 55.8 in September. Activity has now risen on a monthly basis throughout the past 12 months
Labour Market: registered unemployment. October 2014 (November 04, 2014)
Registered unemployment increased by 79,154 in the month of October (1.78%, m/m). This is the lowest increase in the month of October since 2010. In seasonally adjusted terms the unemployment decreased by 19,393. The y/y change in unemployment shows a decrease of 284,579 persons (-5.91%).
European Commission: European economic forecast - Autumn 2014 Spain (November 04, 2014)
GDP and employment growth expected to firm: After a temporary slowdown in the second half of 2014, GDP growth is projected to increase in 2015 (1.7%) and 2016 (2.2%), supported in particular by rising employment and easier financing conditions. With domestic demand becoming the main driver of growth, the external surplus is expected to narrow significantly in 2014 relative to 2013 and then to expand slightly in 2015 and 2016. Unit labour cost growth is expected to turn moderately positive, still allowing a further recovery in international competitiveness. Unemployment is expected to continue declining. Spain’s general government deficit is set to narrow in 2014 and 2015.
Banco de España: Financial Stability Report, November 2014 (November 03, 2014)
The Bank of Spain's Financial Stability Report is a six-monthly publication which analyses the evolution of the risk, solvency and profitability of deposit institutions.
Markit Manufacturing PMI. October 2014 (November 03, 2014)
The seasonally adjusted PMI index was unchanged at 52.6 in October, signalling a further solid improvement in the health of the sector. Operating conditions have now strengthened in each of the past 11 months.