Trump’s policies, the main question mark surrounding the global economic outlook Financial markets Rita Sánchez Soliva March 17th, 2025
El ciclo expansivo del mercado inmobiliario se extiende por la geografía española Judit Montoriol Garriga March 17th, 2025
New economic scenario: prudent optimism in a context of uncertainty Spanish economy Oriol Carreras Baquer Zoel Martín Vilató March 17th, 2025
Financial Markets Daily Report 20 March 2025 As widely expected by markets, the Federal Reserve left the fed funds rate unchanged at 4.25%-4.50% range. The Fed rebalanced its scenario towards higher inflation and lower growth, while the median dot plot again signaled two rate reductions by the end of this year, sending US Treasury yields lower, boosting US equities and strengthening the dollar. NGEU NGEU funds: what is the status of their implementation at the European level? Almost five years have passed since the historic agreements to finance the EU’s largest joint economic stimulus programme were reached. The Next Generation EU (NGEU) funds were designed with the dual target of helping to overcome, in the short term, the adverse effects of… David Martínez Turégano 18 March 2025 NGEU NGEU funds: what can we say about their impact and future challenges? Unlike the process of tracking the achievement of the milestones and targets laid out in the Recovery and Resilience Plans (RRPs), assessing where we are in their implementation becomes more complicated when we try to quantify their macroeconomic impact and their… David Martínez Turégano 18 March 2025 NGEU How the NGEU funds are going in Spain: bread for today and hope for tomorrow To date, Spain has already complied with 70% of the reforms set out in the Plan, but only with 15% of the investments, partly because of the Plan’s very nature, which places more emphasis on the reforms in the first few years, and partly due to some initial delays in the… Javier García Arenas 17 March 2025 NGEU Beyond NGEU: investments in Europe to adapt to and survive in the new times The NGEU funds and the national investment programmes in Germany and France are the result of a long process of changes in the big economic blocs, accelerated by COVID and the war in Ukraine. These efforts seek to redefine and adapt production models to the energy… Rita Sánchez Soliva 18 March 2025 NGEU US: A model of economic transformation very different from Europe’s In the US, two major economic investment and modernisation plans have been launched in recent years which represent a very different model from the European one, with a more protectionist approach. The transformative efforts in energy and technology did not arise from the… Isabela Lara White 18 March 2025 Opinion The times are changing José Ramón Díez 14 March 2025 Recent developments Trump’s policies, the main question mark surrounding the global economic outlook Rita Sánchez Soliva 17 March 2025 China Inflation in China: in which direction will the snake creep? Luís Pinheiro de Matos 17 March 2025 Recent developments The limits of uncertainty Oriol Aspachs 14 March 2025 Recent developments New economic scenario: prudent optimism in a context of uncertainty Oriol Carreras Baquer Zoel Martín Vilató 17 March 2025 Foreign sector Excellent records in the foreign sector in 2024 Sergio Díaz Anna Bahí Esteba 17 March 2025 Publications Monthly ReportNo. 498| The transformative capacity of NGEU and other fiscal stimulus plans March 2025 SpainSpain’s Macroeconomic & Financial Outlook11 March 2025 Sectorial ReportTourism. The Spanish tourism sector: no signs of cyclical exhaustion S1 2025 Sectorial ReportSectoral Observatory S2 2024 Sectorial ReportAgrifood. Spain’s agrifood sector enjoys a revival 2024 PortugalPortugal’s Macroeconomic & Financial Outlook12 March 2025 Sectorial ReportReal Estate. Strong demand and short supply shape the sector S2 2024 Sectorial ReportManufacturing Industry 2023 Opinion Editorial The limits of uncertainty Oriol Aspachs Head of Spanish Economics Key points of the month The times are changing José Ramón Díez Head of International Economics & Markets Recommended NGEU US: A model of economic transformation very different from Europe’s Isabela Lara White 18 March 2025 NGEU Beyond NGEU: investments in Europe to adapt to and survive in the new times Rita Sánchez Soliva 18 March 2025 NGEU NGEU funds: what can we say about their impact and future challenges? David Martínez Turégano 18 March 2025 NGEU NGEU funds: what is the status of their implementation at the European level? David Martínez Turégano 18 March 2025 NGEU How the NGEU funds are going in Spain: bread for today and hope for tomorrow Javier García Arenas 17 March 2025 Recent developments New economic scenario: prudent optimism in a context of uncertainty Oriol Carreras Baquer Zoel Martín Vilató 17 March 2025 China Inflation in China: in which direction will the snake creep? Luís Pinheiro de Matos 17 March 2025 Foreign sector Excellent records in the foreign sector in 2024 Sergio Díaz Anna Bahí Esteba 17 March 2025 Recent developments Trump’s policies, the main question mark surrounding the global economic outlook Rita Sánchez Soliva 17 March 2025Most readTrump’s policies, the main question mark surrounding the global economic outlookNew economic scenario: prudent optimism in a context of uncertaintyInflation in China: in which direction will the snake creep?High volatility in a new geopolitical environmentNGEU funds: what is the status of their implementation at the European level? NewsletterBeing informed now ismore important than everGet our latest updates Sign in Hot topics Monetary and fiscal policy Fundamentals of growth in Spain Podcasts La política comercial de Trump (todo lo que siempre quisiste saber sobre los aranceles y nunca te atreviste a preguntar) 24/02/2025 Forecasts Financial markets Interest rate (%)Update date 12-03-2025 Macroeconomic GDP (%)Update date 12-03-2025 Team Ariadna Vidal MartínezLead economist Sandra Jódar RosellDirector of Strategic Planning Oriol Carreras BaquerSenior economist David Martínez TuréganoEconomist Imelda EstebanSenior economist José Antonio Sánchez PalominoData scientist Mar Bisquert PerlesData scientist Meet us Enric FernándezChief Economist Patricia EstebanCommunication Javier García ArenasSenior economist Zoel Martín VilatóEconomist Javier Ibáñez de Aldecoa FusterEconomist Isabela Lara WhiteEconomist Roser FerrerSenior economist Meet us Alberto GrazianoSenior Data Scientist Mireia CrusellsAnalyst Anna Bahí EstebaResearch Assistant Pedro Álvarez OndinaEconomist José Ramón DíezHead of International Economics & Markets Maitane LizarragaAnalyst Ana María PorrasOrganization Meet us Beatriz Villafranca SerranoEconomist Carolina CruzOrganization Isabella Castillo HernándezResearch assistant David del ValSenior economist David Cesar HeymannEconomist Ana Rincón GarcíaOrganization Sergio DíazEconomist Meet us Nuria BustamanteLead economist Oriol AspachsHead of Spanish Economics Josep Mestres DomènechLead economist Antonio Marta MirandaResearch assistant Judit Montoriol GarrigaLead economist Jesús ViscarriOrganization Luís Pinheiro de MatosEconomist Meet us Léopold JouvenEconomist Eduard Alcobé GarciaData scientist Adrià Morron SalmeronLead economist Rita Sánchez SolivaEconomist María Romero MeléndezEconomista Meet usPrint
NGEU NGEU funds: what is the status of their implementation at the European level? Almost five years have passed since the historic agreements to finance the EU’s largest joint economic stimulus programme were reached. The Next Generation EU (NGEU) funds were designed with the dual target of helping to overcome, in the short term, the adverse effects of… David Martínez Turégano 18 March 2025
NGEU NGEU funds: what can we say about their impact and future challenges? Unlike the process of tracking the achievement of the milestones and targets laid out in the Recovery and Resilience Plans (RRPs), assessing where we are in their implementation becomes more complicated when we try to quantify their macroeconomic impact and their… David Martínez Turégano 18 March 2025
NGEU How the NGEU funds are going in Spain: bread for today and hope for tomorrow To date, Spain has already complied with 70% of the reforms set out in the Plan, but only with 15% of the investments, partly because of the Plan’s very nature, which places more emphasis on the reforms in the first few years, and partly due to some initial delays in the… Javier García Arenas 17 March 2025
NGEU Beyond NGEU: investments in Europe to adapt to and survive in the new times The NGEU funds and the national investment programmes in Germany and France are the result of a long process of changes in the big economic blocs, accelerated by COVID and the war in Ukraine. These efforts seek to redefine and adapt production models to the energy… Rita Sánchez Soliva 18 March 2025
NGEU US: A model of economic transformation very different from Europe’s In the US, two major economic investment and modernisation plans have been launched in recent years which represent a very different model from the European one, with a more protectionist approach. The transformative efforts in energy and technology did not arise from the… Isabela Lara White 18 March 2025
Recent developments Trump’s policies, the main question mark surrounding the global economic outlook Rita Sánchez Soliva 17 March 2025
China Inflation in China: in which direction will the snake creep? Luís Pinheiro de Matos 17 March 2025
Recent developments New economic scenario: prudent optimism in a context of uncertainty Oriol Carreras Baquer Zoel Martín Vilató 17 March 2025
Foreign sector Excellent records in the foreign sector in 2024 Sergio Díaz Anna Bahí Esteba 17 March 2025
Monthly ReportNo. 498| The transformative capacity of NGEU and other fiscal stimulus plans March 2025
NGEU US: A model of economic transformation very different from Europe’s Isabela Lara White 18 March 2025
NGEU Beyond NGEU: investments in Europe to adapt to and survive in the new times Rita Sánchez Soliva 18 March 2025
NGEU NGEU funds: what can we say about their impact and future challenges? David Martínez Turégano 18 March 2025
NGEU NGEU funds: what is the status of their implementation at the European level? David Martínez Turégano 18 March 2025
NGEU How the NGEU funds are going in Spain: bread for today and hope for tomorrow Javier García Arenas 17 March 2025
Recent developments New economic scenario: prudent optimism in a context of uncertainty Oriol Carreras Baquer Zoel Martín Vilató 17 March 2025
China Inflation in China: in which direction will the snake creep? Luís Pinheiro de Matos 17 March 2025
Foreign sector Excellent records in the foreign sector in 2024 Sergio Díaz Anna Bahí Esteba 17 March 2025
Recent developments Trump’s policies, the main question mark surrounding the global economic outlook Rita Sánchez Soliva 17 March 2025