April 2025 | No. 499

April 2025 | No. 499

Editorial

Trump tariffs: an own goal?

José Ramón Díez

Key points of the month

The Spanish economy in the face of the Trump shock
Oriol Aspachs

Forecasts and indicators

Forecast and indicators - March 2025

Financial markets

Trump’s tariffs send markets plummeting
CaixaBank Research
Germany’s fiscal shift and the bund: when security comes at a price
David del Val

International economy

Political decisions will shape the international economy
CaixaBank Research
A shift in the EU’s political priorities
David Martínez Turégano
Ukraine’s reconstruction and its potential energy implications for Europe
Beatriz Villafranca Serrano

Spanish economy

The Spanish economy continues to grow at a steady pace despite the uncertain international environment
CaixaBank Research
AIReF’s evaluation of the pension reform: first match ball saved, but with big challenges on the horizon
Javier García Arenas
Monitoring consumption in over 200 Spanish towns and cities in real time
Josep Mestres DomènechZoel Martín Vilató
The high lending capacity continues to help reduce Spain’s foreign debt
Sergio Díaz
The diversification of Spain’s export destinations
Anna Bahí Esteba
Increase in Spanish household savings in 2024
Javier García Arenas

Portuguese economy

Portugal kicks off 2025 with a slight loss of traction in economic activity
CaixaBank Research

Forecast and indicators - March 2025

22 April 2025