February 2026 | No. 508

February 2026 | No. 508

Editorial

Dynamic, balanced and sustainable growth

Oriol Aspachs

Key points of the month

Reality or fiction? The answer lies in the data
José Ramón Díez

Forecasts and indicators

Forecasts and indicators - February 2026

Financial markets

A start to the year with cross-currents in the financial markets
CaixaBank Research
Innovation, expectations and vertigo: is AI-driven concentration reshaping Wall Street?
David del Val
Risk premiums and macroeconomics: a robust and cross-cutting relationship
CaixaBank Research

International economy

Global stability: superficial mirage or structural strength?
CaixaBank Research
Hours worked and productivity: is Spain an outlier in the EU?
David Martínez Turégano
There are reasons why housing has become the top concern among European citizens
David Martínez Turégano
The differing speeds of inflation: a differential calculation for the ECB
CaixaBank Research

Spanish economy

The Spanish economy faces 2026 with optimism
CaixaBank Research
Treasury funding needs in 2026: high but manageable thanks to strong demand
Javier García Arenas
Business turnover, a structural challenge for Spain’s catering sector
Pedro Álvarez Ondina
CaixaBank Research wage indicator: new perspectives by company size and job tenure
Josep Mestres Domènech

Portuguese economy

Portugal: 2025 with more employment and robust growth
CaixaBank Research

Forecasts and indicators - February 2026

12 February 2026