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Regional Analysis Spain

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July 6, 2020

Spain | COVID-19: A crisis of supply or demand?

The fall in GDP expected as a result of COVID-19 will be unparalleled in history. The decline in GDP per working-age population in 2020 is expected to be 10% greater than the decline seen in 2019, marking a return to levels seen in 2015.

July 2, 2020

Spain | Impact of COVID-19 on consumption in real time and high frequency: 2 July

The recovery in consumption continued during the week of 22nd to 28th June. The fall in card spending moderated to -2% year-on-year, despite the 5% increase in purchases with Spanish cards. Although consumption with foreign cards improved, it still fell by -73% compared to the same period last year.

July 2, 2020

Spain| Historical drop in employment in 2Q, despite the ERTE & the positive figure in June

Social Security enrolment increased by 68,200 people (-4.6% p/a) in June and unemployment rose by 5,100 (28.1% p/a). Adjusted for seasonality, employment grew by 27,400 people, but unemployment continued to rise (80,900). In 2Q20, affiliation fell by 4.7 t/t CVEC and the number of unemployed rose by 18.8%.

July 1, 2020

Spain | The Spanish economy in the 21st century

Twenty years ago, the Spanish economy started its journey into the 21st century after joining the eurozone in 1999. Since then, Spain has faced two economic expansions and two intense crises of a very different nature, with important consequences for economic policy.

June 30, 2020

Spain | The cyclical position of the Spanish economy during the COVID-19 crisis

This Economic Watch assesses the structural shocks that explain the cyclical behavior of the Spanish economy during the COVID-19 crisis. For this purpose, we use information from the latest forecasts from BBVA Research (2020) which are exogenous to the model.

June 29, 2020

Spain | Castilla-La Mancha Economic Outlook 2020

In Castilla-La Mancha, GDP could fall between 6.4% and 9% depending on the scenario and the recovery by 2021 could be insufficient to recover the GDP levels of early 2019. Employment could fall between 6.1% and 8.7% in 2020, which would mean losing between 20,000 and 32,000 jobs in the biennium.

June 25, 2020

Spain | Impact of COVID-19 on consumption in real time and high frequency: 25 June

The recovery in consumption continued during the last week of the state of alarm. The fall in card spending, which was over -60% year-on-year in mid-April, moderated to -4% between 15 and 21 June due to the 5% growth in purchases with Spanish cards.

June 18, 2020

Spain | Impact of COVID-19 on consumption in real time and high definition

The recovery in consumption continued with the advance of de-escalation. The fall in card spending, which was more than -60% year-on-year in mid-April, eased to -5% in the second week of June due to the 3% growth in purchases with Spanish cards.