Spain | Regional Economic Outlook. March 2026 March 25, 2026 Economic activity relies more on domestic demand and services, and with greater external risks, leading to growing divergences between regions.
China Economic Outlook. March 2026 March 19, 2026 The Chinese economy grew by 5% in 2025 driven by exports, despite weak domestic demand and the real estate crash. 4.5% growth is expected for 2026, supported by stimuli and measures against industrial overcapacity. Reflation narrative is on the rise amid the Iran war.
Spain Economic Outlook. March 2026 March 16, 2026 GDP is estimated to have grown by 2.8% in 2025, and the expansion is expected to continue, with growth of 2.4% in both 2026 and 2027. The outlook remains favourable, although structural challenges persist in a more uncertain international environment than three months ago.
Peru Economic Outlook – March 2026 March 12, 2026 The Peruvian economy keeps showing a solid performance, supported by the dynamism of private spending. Recently, however, three negative supply shocks have affected it, driving down the output growth forecast for 2026 from 3,1 % to 2,9 %. In 2027, the supply shocks will have dissipated and GDP will grow by 3,1 %.
Brazil Economic Outlook. March 2026 March 12, 2026 GDP is forecast to remain close to 2%, while inflation is expected to hover around 4% ahead, following a marked deceleration in activity throughout 2025. As a net oil exporter, Brazil has limited exposure to the conflict in the Middle East, but it could still be negatively affected if tensions persist beyond a few weeks.
Colombia Economic Outlook. March 2026 March 11, 2026 The Colombian economy will grow 2.8% in 2026 and 1.8% in 2027, in a slowdown environment. The recovery is conditioned by macroeconomic imbalances, persistent rising inflation and high interest rates, making the promotion of private investment vital.
Mexico Economic Outlook. March 2026 March 10, 2026 We upgraded our 2026 GDP growth forecast to 1.8% (1.2% previously), supported by the sustained resilience of consumption and the anticipated gradual recovery in investment. After a weak 2025, formal employment begins to improve. We expect core inflation to resume its downward trend in the second quarter of the year.
Argentina | Real estate and Construction Outlook 2026 February 18, 2026 Argentina's real estate market recovered in 2025, driven by mortgage credit and wage growth. Construction remained sluggish. The 2026 outlook offers regional opportunities requiring strategic caution.
Argentina Economic Outlook. March 2026 March 26, 2026 Argentina enters 2026 with further progress in macroeconomic stabilization, supported by fiscal balance, prudent monetary policy and greater FX flexibility. Growth is expected to be moderate, inflation to decline, and the recovery to remain uneven, with challenges in employment, reserves and policy sustainability.
Spain | GDP grew 0.8% q/q in Q4 and ended 2025 with a 2.8% expansion March 26, 2026 Economic activity grew again in 4Q25 (0.8% q/q), driven by domestic demand and despite the drag from net external demand. GDP growth was supported by an increase in hours worked, as productivity per hour fell. Overall, GDP grew by 2.8% in 2025.
Colombia | Challenges, data and opportunities March 25, 2026 Colombia grew 2.6% in 2025, driven by domestic demand and remittances, but faces a growing fiscal deficit, rising inflation and weaker private investment. In a global environment shaped by geopolitical tensions and tariffs, the country needs fiscal adjustment and private investment to sustain its growth potential.
Spain | Regional Economic Outlook. March 2026 March 25, 2026 Economic activity relies more on domestic demand and services, and with greater external risks, leading to growing divergences between regions.
Mexico | Close call, but we expect Banxico to stick to its guidance and ease this week March 25, 2026 If inflation expectations remain well anchored, a pause driven by a supply-driven shock could prove counterproductive given policy lags, potentially leaving the stance tighter than desired once these pressures dissipate.
