China Economic Outlook, December 2025 December 2, 2025 Domestic headwinds including housing market crash, overcapacity, weak sentiments take the place of tariff war to be the dominant factors for China’s growth slowdown.
Spain | Quarterly Labor Market Observatory 3Q2025 December 1, 2025 In this edition of the QLMO, we examine labour market developments using the information available up to Q3 2025. We review the main aggregate indicators and analyse the challenge of generational replacement.
Türkiye Economic Outlook. November 2025 November 28, 2025 The global economy remains unstable but is faring better than expected. In Türkiye, we maintain our baseline with somewhat a restrictive policy mix in the short term; yet with a balance of risks evolving to a stickier inflation trend due to the prolonged process with more muted gains on expectations.
Spain | Unlocking Spain’s Green Potential through EU ETS Revenues November 21, 2025 Revenues from the EU Emissions Trading System (EU ETS) are a fiscal resource available for climate action and the energy transition. By allocating 25% of the expected 2030 revenues to cleantech (€1.1–2.4 billion) and attracting private investment, Spain would strengthen its industrial capacity and competitiveness.
Colombia | Automotive Situation November 20, 2025 In 2025, the automotive sector is accelerating its sales momentum, with strong growth in utility vehicles and in hybrid and electric models. Greater household purchasing power and a more appreciated exchange rate, among other supportive factors, sustain this trend and will keep driving sales in 2025 and 2026.
Argentina | Mining Outlook 2025 November 12, 2025 Argentina holds world-class mining potential. The development of lithium and copper, combined with the Large Investment Incentive Regime (RIGI), could increase production and multiply exports by five by 2032, consolidating the country's role in the global energy transition.
Mexico | Banking outlook. November 2025. November 12, 2025 Financing in Mexico has been characterized by three main trends: i) the increase in resources allocated to companies; ii) the fade out of the accounting effect of the exchange rate on the balances of loan and deposit portfolios; and iii) the strengthening of retirement funds as the main source of domestic savings.
Türkiye | Quarterly Debt Outlook 3Q 2025 November 12, 2025 The total FX position of the economy continued to improve in 3Q25 (with the latest data of Aug25) due to an improvement in public sector’s FX position, led by the CBRT. The composition of external debt continues to shift between the public sector and the real sector.
Spain | Consumption Outlook. November 2025 November 11, 2025 Private consumption is set to grow by 3.3% in 2025, two-tenths higher than in 2024, and by 2.5% in 2026, driven by expected increases in household disposable income and wealth. Durable goods and services will continue to lead the expansion in spending.
Spain | The labor market met positive expectations in November December 2, 2025 In November, Social Security enrollment fell by 14,400 people and unemployment by 18,800. After seasonal adjustment (SA), it is estimated that the number of contributors grew by 45,000 and the number of unemployed fell by 10,000. The temporary employment rate fell marginally to 13.5% (SA).
China Economic Outlook, December 2025 December 2, 2025 Domestic headwinds including housing market crash, overcapacity, weak sentiments take the place of tariff war to be the dominant factors for China’s growth slowdown.
Türkiye| Absence of significant cooling down in activity December 1, 2025 Türkiye’s economy grew by 3.7% y/y in the first three quarters of the year. Growth in 2025 is highly likely to align with our 3.7% forecast, while for 2026 we maintain our 4% growth forecast, considering the expected easing cycle, neutral fiscal stance , carry over impact and resilience expectation in the global economy.
Mexico | Remittances Continue to Grow in LAC, but Not in Mexico (-1.7% in October) December 1, 2025 In October 2025, remittances increased 24.0% to Honduras, 19.5% to Guatemala, 16.3% to El Salvador, and 5.4% to Colombia; while in September they grew 11.9% to the Dominican Republic.
Peru | Consumer prices rose slightly in November December 1, 2025 CPI rose 0.11% m/m in November, driven by higher prices in food, restaurants and transport. Despite the monthly increase, annual inflation remained stable at 1.4%, within the Central Bank’s target range.
