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Spanish economic growth accelerated to 0.8% QoQ in Q1, one tenth faster than the growth posted in Q4 2016.

In Q1 2017 the housing price growth accelerated to 0.9% QoQ (0.8% in Q4 2016), putting year-on-year growth at 2.2%, in line with forecasts.

Inflation eased 7 tenths in May to 1.9%, a figure short of the CaixaBank Research forecast.

The increase of 223,192 individuals registered with Social Security in May was somewhat larger than CaixaBank Research had anticipated (210,000), confirming real buoyancy from the labour market. Given such positive data, the pace of job creation accelerated to 3.9% YoY (3.8% in April).

Inflation was down 7 tenths in May to 1.9%.

Should said model forecast prove accurate, the pace of GDP growth would accelerate slightly against Q1 2017 (0.80% QoQ).

The uptick in social security affiliates of 87,692 in June corroborates the robust buoyancy of the labour market, in line with the CaixaBank Research forecast (+100,000).

Inflation eased 4 tenths in June to 1.5%.

Employment performed very positively in 2Q 2017.

The overall budgetary execution figures up to May show an adjustment to public sector accounts.

The pace of job creation in July, of 3.6% year-on-year, is good data and confirms the dynamism of the job market, although it was slightly below the forecasts of CaixaBank Research.

Inflation remained unchanged in July at 1.5%.

Spanish economic growth accelerated to 0.9% QoQ in Q2, one tenth faster than the growth posted in Q1 2017.

Inflation rose 1 tenth in August to 1.6%, an increase lower than that forecast by CaixaBank Research.

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.

Inflation rose 1 tenth in August to 1.6%.

Should the model forecast prove accurate, the pace of GDP growth would ease slightly against 2Q 2017 (0.87% QoQ).

In 2Q 2017 the growth in housing prices decreased 0.3% QoQ (0.9% in 1Q 2017), which places the year-on-year increase at 1.6%.

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