Publications

Investment in intangible assets — software, talent, branding, R&D — increasingly defines business competitiveness. Although investing in them is key to gaining productivity, their development in Spain presents an uneven picture.

This Working Paper analyzes the settlement payment for 2023 under the common system of autonomous communities financing, recently published by the Ministry of Finance.

The Spanish economy is entering a new phase of expansion in which the drivers of recent growth are running out of steam. Replacing these with new ones will bring a sense of having already crossed this bridge. But neither the Spanish economy nor the bridge are the same as before.

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

Once the favorable seasonality is discounted, employment rose 0.7% quarterly (SWDA), one tenth more than Social Security affiliation. Likewise, hours worked increased by 0.3% SWDA and temporary employment rates (down to 15.3% SWDA) and unemployment rates (down to 10.5% SWDA) dropped.

Spain needs to recalibrate its fiscal policy to ensure a greater emphasis on spending in production, infrastructure, education, and new technologies. This would help boost long-term growth and improve well-being.

In 2024, Catalonia's GDP could have grown by 3.2%, and is expected to increase by 2.6% in 2025 and 1.5% in 2026. Going forward, the evolution of activity will be marked by the high uncertainty surrounding economic and tariff policies and the slow recovery in Europe.

The recent appreciation of the euro against the dollar—more than 10% since the lows at the beginning of the year—has shifted the price competitiveness of Spanish companies and the purchasing power of households.