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In 2025, the Galician economy could report a 6.4% increase in GDP per capita when compared with 2019, the largest advance within Spain. This brings the autonomous region one step closer to converge with the country as a whole.
Despite the slowdown, permanent formal employment has shown constant gains. In June, formal employment had a year-on-year growth of 2.0%, 0.1 percentage points below our forecast, confirming the expected deceleration trend.
Social Security contributors rose by 71,100, while unemployment fell by 46,800, aligning with expectations. Seasonally adjusted, affiliation grew by 0.8% QoQ in Q2 2024, slightly higher than in Q1 2024, and unemployment decreased by 2.1% QoQ (-…
Output will grow 2,9% this year (previous forecast: 2,7%), supported by a new pension funds withdrawal. Sectors affected by weather anomalies in 2023 will recover and non-primary sectors too thanks to increased private spending. In 2025, once t…
Formal employment in Mexico continues decelerating, growing 2.2% in May 2024, 0.2 percentage points lower than the previous month. Job creation is expected to pick up in the third quarter but at a slower pace than in 2023.
Social Security enrollment grew by 220,300 and unemployment fell by 58,700. Seasonally adjusted, it is estimated that the number of contributors increased by 60,000, but the number of unemployed hardly changed. The percentage of those affiliated to the General Regime with temporary contracts stabilized at 14.4% CVEC.
The employment resumes growth in April (2.5% year-on-year); this rebound in employment is explained by the negative impact of the previous month's Easter week. A change in the employment creation trend is not anticipated but rather seen as a temporary adjustment
Social Security affiliation increased by 199,500, while unemployment declined by 60,500. Adjusted for seasonality, it's estimated that the number of contributors rose by 60,000 and the unemployed fell by 34,000. The proportion of General Regim…
Social Security affiliation rose more than expected in March (193,600 individuals), but unemployment declined less than forecasted (-33,400). Seasonally adjusted, employment rebounded in Q1 2024 (0.8% quarterly CVEC) and both hiring (-0.9%) and…
The Spanish economy is faring better than anyone expected a few months ago. And despite high interest rates, held back by a European economy that has been stagnant and amid heightened uncertainty surrounding economic policy. With all this, GDP …
GDP growth in Spain for 2024 is revised upwards from 1.5 % to 2.1 %. In 2025, the advance would be reduced by 0.5 pp with respect to the previous scenario, to 2.0 %. The need to initiate the adjustment in public accounts and the greater weakness expected in the Eurozone economy explain the deterioration in the outlook.
Social Security affiliation rose by 103,600, while unemployment decreased by 7,500. After seasonal adjustments, it is estimated that the number of contributors grew by 85,000, and the number of unemployed people dropped by 35,000. The percentage of temporary contracts decreased by 2.9 pp to 54.2% CVEC.
