Search results

The main indicators concerning the Spanish economy have improved slightly during the last month. This alleviates fears of a sharp decline in economic activity and, indeed, opens the door to the possibility of the year ending without a contraction in GDP.

We disaggregate job creation among the main branches of economic activity in order to assess whether the improvement in the labour market is widespread or is concentrated in certain sectors and is due to specific factors.

This summer’s hot topic, at least economically speaking, has been the sharp rise in the price of gas. All the indicators suggest that over the coming months we will have substantially higher prices than those predicted before we went on holiday, and this will undermine the Spanish economy’s recovery process.

Fiscal activism is not declining in the US. Following the vast disbursements of 2020 and 2021, fiscal activity is now focusing on negotiations regarding the new stimulus packages proposed by the Biden administration: The American Jobs Plan (AJP, which revolves around infrastructure) and The American Family Plan (AFP, with a social focus). But what can we expect to come out of these negotiations?

This is the first of two articles devoted to the analysis of investment in Spain and explores the changes that have taken place in the last decade in the composition of investment in Spain. The second article focuses on investment trends since the beginning of the pandemic, as well as the signals that can be drawn from the latest investment indicators.

The tourism sector is proving to be one of the biggest beneficiaries of the rapid recovery in international mobility. The sectoral indicators paint a very positive picture for the remainder of 2022, meaning it can act as a driver for the Spanish economy at a time when many other sectors are enduring a difficult context.

What does the quantitative tightening (QT) which the Fed is going to carry out in its monetary-policy normalisation process involve? How could it impact the financial markets?

The recovery will have to face a new hurdle in the short term. While this should not change its trajectory, it could once again cloud the economic landscape over the coming weeks, at least until we have all the necessary information to refine the health and economic policy responses.

In a context of gradual recovery of the Spanish economy during 2021, the trend in the real estate market has been very encouraging, especially on the demand side.

The intensification of inflationary pressures, a phenomenon aggravated by the war in Ukraine, has led to a sharp shift in the direction of monetary policy. Mass bond purchases by the central banks are being left behind, while official rates are already being ratcheted up. In the financial markets, this change has been reflected in a sharp rise in sovereign debt yields – a trend which, due to their role as a benchmark, has also affected other financial assets.

We analyse the economic impact of the war in Ukraine on Europe, the US and the major emerging countries.