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The impact of the crisis on the sector has therefore been limited and much less than initially expected, and activity in the residential market is recovering reasonably well from last year’s extraordinary downturn .
We dedicate the dossier of the December issue to one of the major determining factors for social well-being and cohesion: inequality. Through the monthly monitoring of internal data that we have carried out since the pandemic, we are able to confirm the downward trend of inequality in Spain, contrary to that observed in the main developed economies, and we stop to examine the recent evolution of Spain’s middle class. In other articles of the report, also using internal data, we analyse the economic impact of the floods in Valencia and how households in Catalan municipalities in a state of drought adjusted their water consumption. In addition, we study the exposure of the Spanish, European and Chinese economies to tariff hikes in the United States.
The COVID-19 pandemic has highlighted the importance of the agrifood sector as a mainstay of the Spanish economy. During the months of lockdown, the entire food chain (which includes farmers, breeders, fishermen, cooperatives and the food industry, wholesalers, retailers, distributors and logistics operators) had to adapt quickly to secure the population's food supply. In retrospect, it is only fair to acknowledge the excellent response by the whole sector in tackling this challenge.
Analysis of the economic impact of the Ucraine crisis in Spain
Dossier
The current internationcal economic environment and the current economic environment in Spain
Dossier
The current international economic environment and the current economic environment in Spain
Dossier
Europe's moment
Dossier
Impact of ageing in Spain and Portugal
Made in Spain, Made in the USA and even Made in China labels make less and less sense in today’s world. Since firms decided to fragment their production processes and move them to other countries, the label Made in the World probably better represents the nature of most of the manufactured goods we consume. In this article we review the past, present and future of global value chains at a time when pandemic-induced restrictions on travel and supply disruptions have brought them back into the spotlight.
The price of electricity, something that would usually barely catch the reader’s attention, has populated the headlines and been a topic of dinner conversations since the middle of the year. This change is not a trivial one: the price of electricity soared beginning in July, and by October it had almost quadrupled the average for 2018-2019. What is the reason for this increase and what impact will it have on the economy? These are the questions that this article attempts to answer.
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.
But for once, to start the year on a good footing, permit me to dare to highlight what is going well, and the things that can go even better, of which there are plenty.
Despite the expected reduction in the deficit to around 5.0% of GDP in 2022, the Treasury’s funding needs will remain high. This leads to the question of whether it could experience difficulties in capturing this funding now that the ECB has announced that it will be reducing its purchases of public debt.
The European Commission has published the results of its quarterly survey on the industrial sector. This survey covers a wide range of questions, but in this article we will focus on the messages emanating from the question on the main factors that are limiting manufacturing companies’ production capacity.
The war that has broken out in Ukraine makes it now very difficult to predict the course of economic activity, but with every day that passes it seems increasingly unlikely that growth will reach the 5% which we were expecting it to exceed.