Publications

Five weeks after the DANA (December 3–9), most indicators in Valencia province displayed stronger performance than those in the rest of Spain. However, foreign card spending continued to lag behind the national growth rate.

During the week of November 12 to 18, the improvement trend in most spending indicators stopped. Growth rates have shown a similar behavior to that of the previous week, maintaining a negative gap with respect to the evolution observed in the rest of Spain.

Geopolitical uncertainty threatens to exacerbate the growth traps that plague many countries at different levels of development.

In 2024, the prospects will improve in all the Autonomous Communities, driven by employment, domestic consumption and, above all, service exports. In 2025, the push will come from the industrial communities and the recovery of the south after the drought, with tourist communities losing momentum.

The GDP growth forecast for all the Autonomous Communities increases in 2023, with greater momentum in the industrial and tourist regions. But the forecast for 2024 is reduced: inflation moderates the increase in consumption in the Mediterranean regions, and the improvement in Europe will not be enough to compensate for it.

In February, total consumer spending contracted 2.7% year-on-year in real terms, deepening the moderation it has been showing since the end of 2022. This time, the result was mostly explained by the deceleration of spending in services sectors.