Publications and economic news

Economic activity remains subdued as our monthly GDP indicator nowcasts an annual growth of 2.7% in 3Q26, implying a quarterly growth of around 0.5%. Considering the current weak momentum, ongoing geopolitical risks and the recent shock through funds, we see increasing downside risks to our 2026 GDP growth forecast of 3%.

BBVA Research expects Navarra's GDP to grow by 2.0% in 2026 and 2.4% in 2027 (Spain: 2.1%). Employment, consumption and fiscal policy will support economic activity, while a recovery in exports will help accelerate growth, despite risks related to industry and energy.

Latin America faces external headwinds, including less favorable global financial conditions and volatility stemming from global geopolitical tensions, compounded by the El Niño phenomenon. Despite these challenges, the region is expected to maintain steady growth of around 2.1% in 2027.

Tourism spending in Spain is driven by foreign demand, which grew 8.8% year-on-year between May and August 2026. This dynamism offset the slowdown in domestic tourism, where spending increased by only 2.5%. Total spending grew by 5.7%, exceeding the pace between January and April 2026.

The analysis of regional data in Spain since 2000 reveals a growing divergence in productivity per worker. Regions with the highest demographic and employment growth experience an increase in total GDP but slower growth in GDP per capita, which hinders economic convergence.

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

We present a summary and analysis of the most relevant developments and publications in Mexico's financial regulatory landscape.