Regional & Urban Economics

Regional & Urban Economics latest publications

February 27, 2020

Spain | Uncertainty continues to affect the evolution of the real estate market

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

February 27, 2020

Fiscal Consolidation: A Demanding Challenge

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.

February 26, 2020

Valencian Community Economic Outlook. First half 2020

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.

February 26, 2020

Long series of GVA and regional employment by sector, 1955-2018

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

February 18, 2020

Aragon Economic Outlook 2020

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

February 13, 2020

Spain | Activity could slow down again in 1Q20

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

February 5, 2020

Spain | No fiscal adjustment in 2019

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

February 4, 2020

Spain | The weakness of labour market registrations continued in January

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