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The good pace of employment creation in August, at 3.4% year-on-year, confirms a buoyant labour market, despite standing somewhat short of CaixaBank Research’s forecasts

The overall budget execution figures up to June show an adjustment of public sector accounts.

The overall budget execution figures for 2Q 2017 showed an adjustment to public sector accounts.

GDP growth stood at 0.8% QoQ in 3Q 2017, in line with the CaixaBank Research forecast, and showing a slight slowdown against 2Q (0.9% QoQ).

The overall budget execution figures up to August show an adjustment to public sector accounts.

The pace of job creation was sustained in October at 3.5% YoY, a figure slightly higher than the CaixaBank Research forecast, and confirming that the buoyancy of the labour market is enduring.

The deficit for Spain’s public sector as a whole, excluding local authorities (L. A.), stood at 2.0% of GDP  in September, 1.2 pp lower than the September 2016 figure.

The pace of job creation held at 3.4% YoY, a figure in line with CaixaBank Research forecasts, and confirming the enduring buoyancy of the labour market.

GDP growth slowed 1 tenth in Q4 2017, to 0.7% QoQ, coherent with the CaixaBank Research forecast model estimation.

The labour market performed positively in the first month of the year, as evidenced by social security affiliates climbing 66,578 in seasonally adjusted terms (more than the average monthly increase of 50,935 in 2017).

The sharp increase in housing appraisal prices in the last quarter, slightly sharper than expected, consolidated the rising trend for housing prices, standing for the third consecutive year in positive growth.

The labour market posted a good performance during February, as evidenced by the number of Social Security affiliates rising by 81,483, a faster uptick than seen in the same month 2017 (74,080).

The 2017 public deficit stood at 3.1% of GDP, in line with the stability target agreed with the European Commission and the CaixaBank Research forecast. 

The Council of Ministers approved the draft bill for General State Budget (PGE in its Spanish acronym), which will now have to be passed by Spain’s parliament.

The labour market again posted a positive trend during March, as evidenced by the significant 139,000 uptick in the number of social security affiliates, slightly smaller than that posted in the same month of the previous year (162,000).

Inflation was up 1 tenth in March to 1.2%, matching the INE flash estimate.

The labour market performed well, but again lost some momentum in the first quarter of the year. This was evidenced by the fact that in seasonally adjusted terms job creation was positive (0.5% QoQ) at a similar rate to Q4 2017, but somewhat below the average for the first three quarters of 2017 (0.7%).

Inflation was down 1 tenth in April to 1.1%, in line with figures anticipated by CaixaBank Research.

The budget execution figures available up to February show a slight adjustment to overall public sector accounts, excluding local authorities.

The labour market again posted a positive performance during April, as evidenced by the significant 176,000 uptick in the number of social security affiliates, a slightly larger increase than forecast by CaixaBank Research.