Regional Analysis Spain
Regional Analysis Spain latest publications
As the Spanish economy was still recovering from the effects of the Great Recession, the COVID-19 crisis had a dramatic impact on its labor market, which has been the worst-performing in Europe during said crisis.
September 4, 2020
Spain | Impact of COVID-19 on consumption in real time and high frequency: August 31
Card spending started strongly but later dropped off during the month of August as the incidence of COVID-19 cases rose. Face-to-face purchases increased 0.4% year-on-year in the week from 25 to 31, while internet transactions declined by -12%, reducing aggregate spending by -2%.
Social Security Affiliation raised by 6,800 people in August (-2.7% YoY) and unemployment by 29800 (24% YoY). Discounting seasonality, the number of contributors grew by 180000 and the unemployed fell by 17000. The estimated impact of the crisis continues to be significant: -960000 contributors and 825000 unemployed.
This note briefly describes the latest update of RegData, a database that collects the main economic and demographic aggregates of the Spanish regions over the last six decades. For the most part, the series begin in 1950 or 1955 and run until 2019.
The 2020 lockdown resulting from the COVID-19 pandemic cost nearly one million jobs between February and May, a figure similar to what was lost between Aug-08 and Mar-09. In contrast, the measures adopted in 2020 have allowed for a smaller impact on employment than that observed in the GDP.
Despite the robust measures implemented by the ECB, the EU, the Spanish government and public authorities, as well as the credit boost of the banking system, which have all prevented a much worse scenario, several quarters of growth will be needed for activity to catch up to the levels at the end of 2019.
This note analyzes the payment under the common system for the financing of autonomous communities for 2018, which was recently made public by the Ministry of Finance.
August 12, 2020
Spain | The Mediterranean regions, protagonists of a more markedly V-shaped recovery
The spread of COVID-19 has had an unprecedented impact on the Spanish economy on various fronts. The lockdown that began in March did not last 15 days as initially thought, but ultimately went on for over 90 days.