Publications

Cantabria's GDP is projected to have grown by 2.9% in 2024, and is expected to increase by 2.0% in 2025 and 1.6% in 2026. Going forward, the economy's development will be marked by high uncertainty regarding economic and tariff policies and the slow recovery in Europe.

This edition of the QLMO analyzes labor market trends using data available through Q2 2025. It reviews the performance of key aggregate indicators and explores recent developments in the duration of employment relationships.

The increase in total tourist spending with cards by Spaniards and foreigners slowed during the second four-month period of 2025, standing at 5.7% y/y (4.5 pp less than in the previous period), in a context of rising prices.

In August, Social Security lost 199,300 contributors and unemployment rose by 21,900 due to seasonal factors. Once seasonally adjusted (SA), the number of contributors increased by 29,900 and the number of unemployed fell by 4,800. The share of temporary contracts in the General Regime stood at 13.7% (SA).

In Europe, despite practically universal financial inclusion, financial health indicators reveal much room for improvement. The key lies in offering education, incentives, and advice to create saving habits and promote informed decision-making.

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.

In July, the Social Security added 4,400 new affiliates, and unemployment decreased by 1,400. Seasonally adjusted (CVEC), contributors increased by 31,000, and the unemployed by 1,200 (the first increase in 21 months). The percentage of temporary contracts in the General Regime rose to 13.7% CVEC.

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.