Regional & Urban Economics
Regional & Urban Economics latest publications
Last December home sales contracted again and 2019 was the first year of falling sales since the beginning of the recovery in 2014. In response, house prices grew less sharply in the last quarter of the year. Meanwhile, visa signatures fell in November
Predictably, Spain closed 2019 with a public deficit that was closer to 2.5% of GDP than to 2%, meaning little change in comparison with 2018. This almost complete lack of improvement means that fiscal consolidation efforts will be carried over to this year.
The economy of the Valencian Community could have grown by 1.9% in 2019 and will advance by 1.5% in 2020 and 2.0% in 2021. Some 55,000 jobs will be created in the two-year period, although the risks are numerous. The level of employment will be 4.2 percentage points lower than before the crisis.
This paper describes the construction of the sectoral module of the RegData FEDEA-BBVA database. The RegData regional series of employment, employed and salaried persons, GVA, average salaries and salaried wages are broken down into six large sectors, and services are tentatively broken down into three others
After growing 3.0% in 2018, the economy of Aragon could have grown by 2.1% in 2019. It will advance by 1.8% in 2020 and 2.0% in 2021, reducing the unemployment rate to 8.6% in 2021. The average GDP pc annual growth rate will be 2.0%, half a point above the Spanish average, with a demographic stagnation in the region
After recovering some traction at the end of 2019, growth could decrease to 0.4% in the first quarter of 2020. Demand composition remains volatile and monthly records continue to show signs of weakness in the labor market
Budget execution data up to Nov-19 anticipate a further structural deterioration of the structural balance during 2019. For 2020-2021, and pending the completion of the new government's budget programme, the recently approved measures maintain the expansionary tone of fiscal policy
Gross social security affiliation fell by 244,000 people in January (1.8% YoY) and unemployment rosed by 90,200 (-1.0% YoY). Excluding seasonal factors, employment barely grew by 9,000 people and unemployment by 4,000, which, in any case, represented a prolongation of the sluggishness in the labour market registrations