November 2021 | No. 461

November 2021 | No. 461

November 2021 | No. 461

Dossier

The recovery in comsumption

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La recuperación del consumo

Editorial

The search to recover the lost balance

José Ramón Díez

Key points of the month

The COVID-19 pandemic has been a V-shaped crisis

Forecasts and indicators

Forecasts Key indicators

Financial markets

Economic outlook

The financial markets reflect an outlook marked by inflation

Focus

Will the ECB meet its new inflation target?

Ricard Murillo Gili

International economy

Economic outlook

Global economy: winter is coming

Focus

Fiscal activism in the US: a lot of noise and little substance?

Clàudia Canals

Spanish economy

Economic outlook

Spain: the downside risks increase

Focus

The public accounts in 2022: shifting from cyclical spendingto structural spending

Javier García Arenas

Focus

A promising summer harvest for Spanish tourism

Javier Ibáñez de Aldecoa Fuster

Focus

The mismatch between labour supply and demand

Nuria Bustamante

Portuguese economy

Economic outlook

Portugal: the economy continues its way towards pre-pandemic levels

Focus

'Annus horribilis' for Portuguese tourism: asymmetric fallsand a two-speed recovery

Tiago Belejo Correia

Dossier

The recovery in comsumption

Savings and consumption in times of pandemic: a historical and international review

Adrià Morron Salmeron

Consumption and pent-up demand: what is the profile of the star consumer in the recovery?

Several authors

To borrow or not to borrow: a dilemma that depends on what was saved during the pandemic

Several authors

Which sectors have benefited the most from the pent-up demand?

Several authors