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Once domestic demand reflects the effects of the interest rate hikes, the hardest part of the central banks’ work will have been largely completed. The problem is that the markets are already – perhaps precipitously – pricing in an imminent shift in monetary policy.
The high season for Spain’s tourism sector has turned out better than expected in 2025, confirming our view that tourism growth is normalising at solid levels: CaixaBank Research forecasts that tourism GDP will grow by 2.7% in 2025 and by 2.5% in 2026.
In this article we analyse whether the savings accumulated during the pandemic are currently acting as a pushback for new consumer lending. If so, will this remain the case into next year?
In 2022 all households had to allocate a greater percentage of their income to paying their electricity and gas bills. However, the additional effort required to pay for energy consumption was not the same for everyone. In this article, we estimate that effort based on internal CaixaBank data.
While employment in Spain far exceeds pre-pandemic levels, the number of hours actually worked has grown at a slower pace since then. The significant increase in absenteeism due to temporary disability has been one of the main factors behind this trend.