Spain Economy

Spain’s gdp growth annual decreased to -8.7 by -59.53% on May 2020 from -21.5 in the previous Quarterly. On a year on year basis Spain’s gdp growth annual decreased by -410.71%. Spain’s gdp growth annual trend is down since the current value of -8.7 is lower than the 12 month moving average of -1.18333.Spain’s inflation cpi decreased to -0.5 by -37.5% on November 2020 from -0.8 in the previous Monthly. On a year on year basis Spain’s inflation cpi decreased by -600.0%. Spain’s inflation cpi trend is down since the current value of -0.5 is lower than the 12 month moving average of -0.141667.Spain’s unemployment rate icnreased to 16.26 by 6.07% on May 2020 from 15.33 in the previous Quarterly. On a year on year basis Spain’s unemployment rate decreased by -0.73%. Spain’s unemployment rate trend is down since the current value of 16.26 is lower than the 12 month moving average of 14.9992.

Spain Financial Markets

 

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
IBEX 35 IBEX 8567 0 0.25 0.49529 52.9157 -1.05 -4.32 -2.64 -0.15824
Spain ETF EWP 27.44 0.5 0.5 1.2395 58.5292 -1.05 -6.12 -3.72 -0.05274
Spain 10-Year Bond Yield ES.10Y 0.27 -1 -1 -1.36442 45.7791 -13.74 -40.13 -37.93 -0.91423
Spain 5-Year Bond Yield ES.5Y -0.33 0.5 -0.75 -1.29576 45.6911 8.2 72.77 41.63 1.50515
Spain 2-year bond yield ES.2Y -0.54 0.5 -1 -1.36089 40.4619 3.85 8.87 11.57 0.75209
Spain Yield Curve ES.YC 0.82 -0.5 -0.5 -1.07065 50.2841 -1.56 -13.41 -10.77 -0.19952
Spain Credit Default Swaps CDS.Spain 30.5 -1 -1 -0.89681 25.4161 3.39 -7.58 -11.59 -0.02361

IBEX 35 closed down by -0.0099% to 8073.7 on 23 January 2021 and +1e-05% on a weekly basis. IBEX 35 momentum was last calculated at +0.0/100 indicating positive momentum. IBEX 35 trend is +0.25/100 indicating a positive trend. IBEX 35 momentum exhaustion is 0.49529 indicating IBEX 35 is oversold.Spain ETF closed up by 0.00807% to 27.48 on 23 January 2021 and +0.00219% on a weekly basis. Spain ETF momentum was last calculated at +0.5/100 indicating positive momentum. Spain ETF trend is +0.5/100 indicating a positive trend. Spain ETF momentum exhaustion is 1.2395 indicating Spain ETF is oversold.Spain 10-Year Bond Yield closed up by 0.0% to 0.041 on 23 January 2021 and +-0.51765% on a weekly basis. Spain 10-Year Bond Yield momentum was last calculated at -1.0/100 indicating negative momentum. Spain 10-Year Bond Yield trend is -1.0/100 indicating a negative trend. Spain 10-Year Bond Yield momentum exhaustion is -1.36442 indicating Spain 10-Year Bond Yield is oversold.Spain Credit Default Swaps closed up by 0.0% to 43.0 on 23 January 2021 and +-0.02273% on a weekly basis. Spain Credit Default Swaps momentum was last calculated at -1.0/100 indicating negative momentum. Spain Credit Default Swaps trend is -1.0/100 indicating a negative trend. Spain Credit Default Swaps momentum exhaustion is -0.89681 indicating Spain Credit Default Swaps is oversold.

 

Spain Macroeconomic model

MacroVar Spain Macro model analyzes economic growth and inflation to assess the current economic conditions. Economic growth and inflation expectations are the two most important economic indicators used to assess economic conditions, forecast financial market returns and policymaker response. Spain’s current macroeconomic conditions are summarized below the chart. Click here to learn more about MacroVar Spain macroecononic model and the leading economic indicators used for analysis.

Spain Macro Model

Spain News

Spain Economy

Economic Activity Overview Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
gdp growth annual -4.2 -8.9 -0.52809 -2.5 -1.0 -1.0 0.183333 2021-01-01
inflation cpi 2.7 2.7 0 -4 1.0 1.0 0.15 2021-06-30
unemployment rate 15.98 16.13 -0.00929944 -0.0454002 1.0 -1.0 0.5 2020-07-01
Business & Consumer Forecast Overview Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
ESI - Economic Composite 106 96.9 0.0939112 0.409574 1.0 1.0 1 2021-04-01
manufacturing pmi 60.4 59.4 0.016835 0.232653 1.0 1.0 0.95 2021-06-30
services pmi 62.5 59.4 0.0521886 0.204239 1.0 1.0 0.95 2021-06-30
Reserves & Outstanding Debt Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
government debt 1392730000 1345570000 0.0350483 0.199998 1.0 1.0 0 2021-01-01
government debt to gdp 120 95.5 0.256545 2.03797 1.0 1.0 0 2020-01-31
external debt 2270040000 2236170000 0.0151464 0.147998 1.0 1.0 0.716667 2021-01-01
foreign exchange reserves 66865.8 66238.4 0.00947185 -0.0277092 -1.0 -1.0 0.183333 2021-06-30
gold reserves 281.58 281.6 -0.0000710227 0 -1.0 -1.0 0.708333 2020-07-01
Trade Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
current account 729 3335 -0.781409 -0.666514 1.0 -1.0 0.133333 2020-12-31
current account to gdp 0.7 2.1 -0.666667 -1.07527 1.0 1.0 0 2020-01-31
Monetary Policy Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
interest rate 0.05 0.05 0 0 1.0 -1.0 0.791667 2016-03-09
central bank balance sheet 1095410 1079160 0.015058 0.178442 1.0 1.0 0.483333 2021-06-30
banks balance sheet 2925.7 2921.5 0.00143762 0.0433651 1.0 1.0 0.8 2021-04-30
money supply m2 1386890 1373830 0.00950627 0.0587027 1.0 1.0 0.616667 2021-05-31
Fiscal Policy Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
Government budget -30628 -16891 0.813273 -0.050324 1.0 1.0 0.6 2021-05-31

Spain’s gdp growth annual decreased to -8.7 by -59.53% on May 2020 from -21.5 in the previous Quarterly. On a year on year basis Spain’s gdp growth annual decreased by -410.71%. Spain’s gdp growth annual trend is down since the current value of -8.7 is lower than the 12 month moving average of -1.18333.Spain’s inflation cpi decreased to -0.5 by -37.5% on November 2020 from -0.8 in the previous Monthly. On a year on year basis Spain’s inflation cpi decreased by -600.0%. Spain’s inflation cpi trend is down since the current value of -0.5 is lower than the 12 month moving average of -0.141667.Spain’s unemployment rate icnreased to 16.26 by 6.07% on May 2020 from 15.33 in the previous Quarterly. On a year on year basis Spain’s unemployment rate decreased by -0.73%. Spain’s unemployment rate trend is down since the current value of 16.26 is lower than the 12 month moving average of 14.9992.Spain’s manufacturing pmi decreased to 49.8 by -5.14% on November 2020 from 52.5 in the previous Monthly. On a year on year basis Spain’s manufacturing pmi increased by 4.84%. Spain’s manufacturing pmi trend is down since the current value of 49.8 is lower than the 12 month moving average of 47.2167.Spain’s services pmi decreased to 39.5 by -4.59% on November 2020 from 41.4 in the previous Monthly. On a year on year basis Spain’s services pmi decreased by -25.75%. Spain’s services pmi trend is down since the current value of 39.5 is lower than the 12 month moving average of 40.8667.Spain’s business confidence decreased to -7.7 by -16.3% on November 2020 from -9.2 in the previous Monthly. On a year on year basis Spain’s business confidence increased by 102.63%. Spain’s business confidence trend is down since the current value of -7.7 is lower than the 12 month moving average of -13.1.Spain’s consumer confidence icnreased to 55.7 by 14.85% on November 2020 from 48.5 in the previous Monthly. On a year on year basis Spain’s consumer confidence decreased by -28.04%. Spain’s consumer confidence trend is down since the current value of 55.7 is lower than the 12 month moving average of 61.175.

Spain Business activity

Business Activity Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
business confidence -1.1 1 -2.1 -0.952381 1.0 1.0 0.441667 2021-06-30
ESI - Economic Composite 106 96.9 0.0939112 0.409574 1.0 1.0 1 2021-04-01
manufacturing pmi 60.4 59.4 0.016835 0.232653 1.0 1.0 0.95 2021-06-30
services pmi 62.5 59.4 0.0521886 0.204239 1.0 1.0 0.95 2021-06-30
Manufacturing sector 2.6 -5.7 -1.45614 -1.08469 1.0 1.0 0.45 2021-04-01
Consumer sector -11.6 -17.4 -0.333333 -0.60274 1.0 1.0 0.133333 2021-04-01
Construction sector -0.1 -6.9 -0.985507 -0.996296 1.0 1.0 0.183333 2021-04-01
Retail sector -3 -21.2 -0.858491 -0.922078 1.0 1.0 0.216667 2021-04-01
Services sector 3.7 -19.5 -1.18974 -1.07724 1.0 1.0 0.216667 2021-04-01

Spain’s business confidence decreased to -7.7 by -16.3% on November 2020 from -9.2 in the previous Monthly. On a year on year basis Spain’s business confidence increased by 102.63%. Spain’s business confidence trend is down since the current value of -7.7 is lower than the 12 month moving average of -13.1.Spain’s ESI – Economic Composite decreased to 87.5 by -223.0% on January 2021 from 89.5 in the previous . On a year on year basis Spain’s ESI – Economic Composite decreased by -1405.0%. Spain’s ESI – Economic Composite trend is down since the current value of 87.5 is lower than the 12 month moving average of 90.2417.Spain’s manufacturing pmi decreased to 49.8 by -5.14% on November 2020 from 52.5 in the previous Monthly. On a year on year basis Spain’s manufacturing pmi increased by 4.84%. Spain’s manufacturing pmi trend is down since the current value of 49.8 is lower than the 12 month moving average of 47.2167.Spain’s services pmi decreased to 39.5 by -4.59% on November 2020 from 41.4 in the previous Monthly. On a year on year basis Spain’s services pmi decreased by -25.75%. Spain’s services pmi trend is down since the current value of 39.5 is lower than the 12 month moving average of 40.8667.Spain’s Manufacturing sector icnreased to -11.7 by 833.0% on January 2021 from -10.8 in the previous . On a year on year basis Spain’s Manufacturing sector increased by 12941.0%. Spain’s Manufacturing sector trend is down since the current value of -11.7 is lower than the 12 month moving average of -13.3583.Spain’s Consumer sector icnreased to -29.0 by 861.0% on January 2021 from -26.7 in the previous . On a year on year basis Spain’s Consumer sector increased by 18155.0%. Spain’s Consumer sector trend is down since the current value of -29.0 is lower than the 12 month moving average of -21.9167.Spain’s Construction sector icnreased to -16.0 by 2308.0% on January 2021 from -13.0 in the previous . On a year on year basis Spain’s Construction sector increased by 667.0%. Spain’s Construction sector trend is down since the current value of -16.0 is lower than the 12 month moving average of -18.5.Spain’s Retail sector icnreased to -26.8 by 4972.0% on January 2021 from -17.9 in the previous . On a year on year basis Spain’s Retail sector increased by 2670000.0%. Spain’s Retail sector trend is down since the current value of -26.8 is lower than the 12 month moving average of -17.65.Spain’s Services sector icnreased to -33.0 by 714.0% on January 2021 from -30.8 in the previous . On a year on year basis Spain’s Services sector decreased by -39464.0%. Spain’s Services sector trend is down since the current value of -33.0 is lower than the 12 month moving average of -23.1917.

Spain Consumer activity

Consumer Activity Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
total vehicle sales 96785 95403 0.0144859 0.171008 1.0 1.0 0.883333 2021-06-30
consumer confidence 97.5 89 0.0955056 0.60626 1.0 1.0 0.983333 2021-06-30
car registrations 85790 92916 -0.0766929 0.214021 -1.0 1.0 0.933333 2021-06-30
Consumer - General economic situation (next 12 months) -2.8 -17.4 -0.83908 -0.948435 1.0 1.0 0.3 2021-04-01
Consumer - Financial situation (next 12 months) 5.5 -1.4 -4.92857 -1.25346 1.0 1.0 0.233333 2021-04-01
Consumer - Price trends (next 12 months) -2.9 -4.9 -0.408163 -15.5 -1.0 -1.0 0.0166667 2021-04-01
Consumer - Unemployment expectations (next 12 months) 22.4 31.2 -0.282051 -0.678161 -1.0 -1.0 0.333333 2021-04-01
Consumer - Major purchases (next 12 months) -23.5 -26.8 -0.123134 -0.216667 1.0 1.0 0.183333 2021-04-01
Consumer - Savings (next 12 months) -11.1 -8.6 0.290698 -0.239726 1.0 1.0 0.316667 2021-04-01
Consumer - Households Financial situation 6.1 11.1 -0.45045 -0.440367 -1.0 -1.0 0.0833333 2021-04-01

Spain’s total vehicle sales icnreased to 75708.0 by 1.99% on November 2020 from 74228.0 in the previous Monthly. On a year on year basis Spain’s total vehicle sales decreased by -18.73%. Spain’s total vehicle sales trend is down since the current value of 75708.0 is lower than the 12 month moving average of 70953.3.Spain’s consumer confidence icnreased to 55.7 by 14.85% on November 2020 from 48.5 in the previous Monthly. On a year on year basis Spain’s consumer confidence decreased by -28.04%. Spain’s consumer confidence trend is down since the current value of 55.7 is lower than the 12 month moving average of 61.175.Spain’s car registrations icnreased to 98450.0 by 2.18% on November 2020 from 96347.0 in the previous Monthly. On a year on year basis Spain’s car registrations decreased by -14.58%. Spain’s car registrations trend is down since the current value of 98450.0 is lower than the 12 month moving average of 78677.8.Spain’s Consumer – General economic situation (next 12 months) decreased to -38.1 by -52.0% on January 2021 from -38.3 in the previous . On a year on year basis Spain’s Consumer – General economic situation (next 12 months) increased by 15571.0%. Spain’s Consumer – General economic situation (next 12 months) trend is down since the current value of -38.1 is lower than the 12 month moving average of -32.6333.Spain’s Consumer – Financial situation (next 12 months) icnreased to -13.6 by 2477.0% on January 2021 from -10.9 in the previous . On a year on year basis Spain’s Consumer – Financial situation (next 12 months) decreased by -204286.0%. Spain’s Consumer – Financial situation (next 12 months) trend is down since the current value of -13.6 is lower than the 12 month moving average of -8.75833.Spain’s Consumer – Price trends (next 12 months) decreased to 1.9 by -37143.0% on January 2021 from -0.7 in the previous . On a year on year basis Spain’s Consumer – Price trends (next 12 months) decreased by -7324.0%. Spain’s Consumer – Price trends (next 12 months) trend is down since the current value of 1.9 is lower than the 12 month moving average of 3.24167.Spain’s Consumer – Unemployment expectations (next 12 months) icnreased to 61.4 by 496.0% on January 2021 from 58.5 in the previous . On a year on year basis Spain’s Consumer – Unemployment expectations (next 12 months) increased by 13170.0%. Spain’s Consumer – Unemployment expectations (next 12 months) trend is down since the current value of 61.4 is lower than the 12 month moving average of 46.4417.Spain’s Consumer – Major purchases (next 12 months) icnreased to -37.0 by 1012.0% on January 2021 from -33.6 in the previous . On a year on year basis Spain’s Consumer – Major purchases (next 12 months) increased by 8878.0%. Spain’s Consumer – Major purchases (next 12 months) trend is down since the current value of -37.0 is lower than the 12 month moving average of -28.6167.Spain’s Consumer – Savings (next 12 months) decreased to -12.2 by -963.0% on January 2021 from -13.5 in the previous . On a year on year basis Spain’s Consumer – Savings (next 12 months) decreased by -81.0%. Spain’s Consumer – Savings (next 12 months) trend is down since the current value of -12.2 is lower than the 12 month moving average of -13.75.Spain’s Consumer – Households Financial situation decreased to 6.8 by -2184.0% on January 2021 from 8.7 in the previous . On a year on year basis Spain’s Consumer – Households Financial situation decreased by -4887.0%. Spain’s Consumer – Households Financial situation trend is down since the current value of 6.8 is lower than the 12 month moving average of 9.29167.


Spain Manufacturing activity

Manufacturing Activity Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
manufacturing pmi 60.4 59.4 0.016835 0.232653 1.0 1.0 0.95 2021-06-30
Manufacturing sector 2.6 -5.7 -1.45614 -1.08469 1.0 1.0 0.45 2021-04-01
Manufacturing - Order Books -3 -15.9 -0.811321 -0.930556 1.0 1.0 0.45 2021-04-01
Manufacturing - Selling Price expectations (next months) 13.6 4.9 1.77551 -1.62673 1.0 1.0 0.3 2021-04-01
Manufacturing - Production trend (recent months) -3.7 -11.7 -0.683761 -0.81407 1.0 1.0 0.333333 2021-04-01
Manufacturing - Export Order Books -1.7 -17.4 -0.902299 -0.962801 1.0 1.0 0.4 2021-04-01
Manufacturing - Finished Products (Stock Levels) 6.3 1.8 2.5 0.340426 -1.0 1.0 0.783333 2021-04-01
Manufacturing - Production expectations (next months) 17.2 0.5 33.4 -1.39002 1.0 1.0 0.166667 2021-04-01
industrial production 26 48.2 -0.460581 -2.15044 1.0 1.0 0.216667 2021-05-31
industrial production mom 0.4 -0.1 -5 -1.032 -1.0 1.0 0.433333 2021-03-31
capacity utilization 77.4 77.01 0.00506428 -0.0349127 -1.0 -1.0 0.283333 2020-10-01

Spain’s manufacturing pmi decreased to 49.8 by -5.14% on November 2020 from 52.5 in the previous Monthly. On a year on year basis Spain’s manufacturing pmi increased by 4.84%. Spain’s manufacturing pmi trend is down since the current value of 49.8 is lower than the 12 month moving average of 47.2167.Spain’s Manufacturing sector icnreased to -11.7 by 833.0% on January 2021 from -10.8 in the previous . On a year on year basis Spain’s Manufacturing sector increased by 12941.0%. Spain’s Manufacturing sector trend is down since the current value of -11.7 is lower than the 12 month moving average of -13.3583.Spain’s Manufacturing – Order Books decreased to -27.1 by -390.0% on January 2021 from -28.2 in the previous . On a year on year basis Spain’s Manufacturing – Order Books increased by 46458.0%. Spain’s Manufacturing – Order Books trend is down since the current value of -27.1 is lower than the 12 month moving average of -29.075.Spain’s Manufacturing – Selling Price expectations (next months) decreased to -3.4 by -5211.0% on January 2021 from -7.1 in the previous . On a year on year basis Spain’s Manufacturing – Selling Price expectations (next months) decreased by -1500.0%. Spain’s Manufacturing – Selling Price expectations (next months) trend is down since the current value of -3.4 is lower than the 12 month moving average of -6.35.Spain’s Manufacturing – Production trend (recent months) icnreased to -9.9 by 9412.0% on January 2021 from -5.1 in the previous . On a year on year basis Spain’s Manufacturing – Production trend (recent months) increased by 18286.0%. Spain’s Manufacturing – Production trend (recent months) trend is down since the current value of -9.9 is lower than the 12 month moving average of -18.275.Spain’s Manufacturing – Export Order Books icnreased to -23.1 by 11389.0% on January 2021 from -10.8 in the previous . On a year on year basis Spain’s Manufacturing – Export Order Books increased by 78846.0%. Spain’s Manufacturing – Export Order Books trend is down since the current value of -23.1 is lower than the 12 month moving average of -25.5917.Spain’s Manufacturing – Finished Products (Stock Levels) decreased to 7.5 by -2268.0% on January 2021 from 9.7 in the previous . On a year on year basis Spain’s Manufacturing – Finished Products (Stock Levels) increased by 1029.0%. Spain’s Manufacturing – Finished Products (Stock Levels) trend is down since the current value of 7.5 is lower than the 12 month moving average of 7.95833.Spain’s Manufacturing – Production expectations (next months) decreased to -0.5 by -10909.0% on January 2021 from 5.5 in the previous . On a year on year basis Spain’s Manufacturing – Production expectations (next months) decreased by -8684.0%. Spain’s Manufacturing – Production expectations (next months) trend is down since the current value of -0.5 is lower than the 12 month moving average of -3.04167.Spain’s industrial production decreased to -1.6 by -48.39% on October 2020 from -3.1 in the previous Monthly. Spain’s industrial production trend is down since the current value of -1.6 is lower than the 12 month moving average of -8.825.Spain’s industrial production mom decreased to 0.6 by -33.33% on October 2020 from 0.9 in the previous Monthly. On a year on year basis Spain’s industrial production mom decreased by -154.54%. Spain’s industrial production mom trend is down since the current value of 0.6 is lower than the 12 month moving average of 0.375.Spain’s capacity utilization icnreased to 75.58 by 5.12% on August 2020 from 71.9 in the previous Quarterly. On a year on year basis Spain’s capacity utilization decreased by -5.56%. Spain’s capacity utilization trend is down since the current value of 75.58 is lower than the 12 month moving average of 78.0058.


Spain Services activity

Services Activity Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
services pmi 62.5 59.4 0.0521886 0.204239 1.0 1.0 0.95 2021-06-30
Services sector 3.7 -19.5 -1.18974 -1.07724 1.0 1.0 0.216667 2021-04-01
Services - Demand Expectations (next 3 months) 30.1 8.7 2.45977 -1.49834 1.0 1.0 0.0833333 2021-04-01
Services - Prices expectations (next 3 months) 0.6 -5.6 -1.10714 -1.04412 1.0 1.0 0.283333 2021-04-01
Services - Business activity (past 3 months) -8.4 -32.6 -0.742331 -0.805556 1.0 1.0 0.25 2021-04-01
Services - Demand (past 3 months) -10.7 -34.6 -0.690751 -0.7325 1.0 1.0 0.233333 2021-04-01
Services - Employment (past 3 months) -3.1 -11.4 -0.72807 -0.834225 1.0 1.0 0.216667 2021-04-01
Services - Employment (next 3 months) 12.6 0.8 14.75 -1.41176 1.0 1.0 0.0833333 2021-04-01

Spain’s services pmi decreased to 39.5 by -4.59% on November 2020 from 41.4 in the previous Monthly. On a year on year basis Spain’s services pmi decreased by -25.75%. Spain’s services pmi trend is down since the current value of 39.5 is lower than the 12 month moving average of 40.8667.Spain’s Services sector icnreased to -33.0 by 714.0% on January 2021 from -30.8 in the previous . On a year on year basis Spain’s Services sector decreased by -39464.0%. Spain’s Services sector trend is down since the current value of -33.0 is lower than the 12 month moving average of -23.1917.Spain’s Services – Demand Expectations (next 3 months) icnreased to -17.2 by 3231.0% on January 2021 from -13.0 in the previous . On a year on year basis Spain’s Services – Demand Expectations (next 3 months) decreased by -18309.0%. Spain’s Services – Demand Expectations (next 3 months) trend is down since the current value of -17.2 is lower than the 12 month moving average of -3.975.Spain’s Services – Prices expectations (next 3 months) icnreased to -9.7 by 3472.0% on January 2021 from -7.2 in the previous . On a year on year basis Spain’s Services – Prices expectations (next 3 months) decreased by -26724.0%. Spain’s Services – Prices expectations (next 3 months) trend is down since the current value of -9.7 is lower than the 12 month moving average of -4.61667.Spain’s Services – Business activity (past 3 months) icnreased to -41.3 by 1132.0% on January 2021 from -37.1 in the previous . On a year on year basis Spain’s Services – Business activity (past 3 months) decreased by -86482.0%. Spain’s Services – Business activity (past 3 months) trend is down since the current value of -41.3 is lower than the 12 month moving average of -32.5583.Spain’s Services – Demand (past 3 months) decreased to -40.4 by -472.0% on January 2021 from -42.4 in the previous . On a year on year basis Spain’s Services – Demand (past 3 months) decreased by -62467.0%. Spain’s Services – Demand (past 3 months) trend is down since the current value of -40.4 is lower than the 12 month moving average of -32.9833.Spain’s Services – Employment (past 3 months) decreased to -13.4 by -2947.0% on January 2021 from -19.0 in the previous . On a year on year basis Spain’s Services – Employment (past 3 months) decreased by -24565.0%. Spain’s Services – Employment (past 3 months) trend is down since the current value of -13.4 is lower than the 12 month moving average of -13.825.Spain’s Services – Employment (next 3 months) icnreased to -7.3 by 12121.0% on January 2021 from -3.3 in the previous . On a year on year basis Spain’s Services – Employment (next 3 months) decreased by -16822.0%. Spain’s Services – Employment (next 3 months) trend is down since the current value of -7.3 is lower than the 12 month moving average of -1.425.

Spain Retail Sector

Retail Activity Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
Retail sector -3 -21.2 -0.858491 -0.922078 1.0 1.0 0.216667 2021-04-01
Retail - Orders Expectations (next 3 months) 8.4 -15.3 -1.54902 -1.16279 1.0 1.0 0.216667 2021-04-01
Retail - Prices expectations (next 3 months) 12.4 -0.9 -14.7778 -2.00813 1.0 1.0 0.1 2021-04-01
Retail - Business activity (past 3 months) -18.9 -47.4 -0.601266 -0.516624 1.0 1.0 0.366667 2021-04-01
Retail - Stock Levels 6.7 12.1 -0.446281 -0.673171 -1.0 -1.0 0.0333333 2021-04-01
Retail - Business activity expectations (next 3 months) 16.7 -4.1 -5.07317 -1.29875 1.0 1.0 0.183333 2021-04-01
Retail - Employment expectations (next 3 months) -0.1 -9.5 -0.989474 -0.996552 1.0 1.0 0.216667 2021-04-01
retail sales 19.6 40.5 -0.516049 -2.01554 1.0 1.0 0.266667 2021-05-31
retail sales MoM -0.4 3.5 -1.11429 -0.979798 -1.0 1.0 0.55 2021-04-30

Spain’s Retail sector icnreased to -26.8 by 4972.0% on January 2021 from -17.9 in the previous . On a year on year basis Spain’s Retail sector increased by 2670000.0%. Spain’s Retail sector trend is down since the current value of -26.8 is lower than the 12 month moving average of -17.65.Spain’s Retail – Orders Expectations (next 3 months) icnreased to -26.4 by 6815.0% on January 2021 from -15.7 in the previous . On a year on year basis Spain’s Retail – Orders Expectations (next 3 months) decreased by -41807.0%. Spain’s Retail – Orders Expectations (next 3 months) trend is down since the current value of -26.4 is lower than the 12 month moving average of -12.8417.Spain’s Retail – Prices expectations (next 3 months) icnreased to -8.8 by 5172.0% on January 2021 from -5.8 in the previous . On a year on year basis Spain’s Retail – Prices expectations (next 3 months) decreased by -35143.0%. Spain’s Retail – Prices expectations (next 3 months) trend is down since the current value of -8.8 is lower than the 12 month moving average of -2.30833.Spain’s Retail – Business activity (past 3 months) icnreased to -39.4 by 2918.0% on January 2021 from -30.5 in the previous . On a year on year basis Spain’s Retail – Business activity (past 3 months) increased by 41169.0%. Spain’s Retail – Business activity (past 3 months) trend is down since the current value of -39.4 is lower than the 12 month moving average of -31.15.Spain’s Retail – Stock Levels icnreased to 14.7 by 3243.0% on January 2021 from 11.1 in the previous . On a year on year basis Spain’s Retail – Stock Levels increased by 6897.0%. Spain’s Retail – Stock Levels trend is down since the current value of 14.7 is lower than the 12 month moving average of 13.075.Spain’s Retail – Business activity expectations (next 3 months) icnreased to -26.2 by 11833.0% on January 2021 from -12.0 in the previous . On a year on year basis Spain’s Retail – Business activity expectations (next 3 months) decreased by -26173.0%. Spain’s Retail – Business activity expectations (next 3 months) trend is down since the current value of -26.2 is lower than the 12 month moving average of -8.7.Spain’s Retail – Employment expectations (next 3 months) icnreased to -16.4 by 14478.0% on January 2021 from -6.7 in the previous . On a year on year basis Spain’s Retail – Employment expectations (next 3 months) decreased by -58235.0%. Spain’s Retail – Employment expectations (next 3 months) trend is down since the current value of -16.4 is lower than the 12 month moving average of -7.925.Spain’s retail sales icnreased to -4.3 by 43.33% on November 2020 from -3.0 in the previous Monthly. On a year on year basis Spain’s retail sales decreased by -272.0%. Spain’s retail sales trend is down since the current value of -4.3 is lower than the 12 month moving average of -6.9.Spain’s retail sales MoM decreased to -0.8 by -900.0% on November 2020 from 0.1 in the previous Monthly. On a year on year basis Spain’s retail sales MoM increased by 166.67%. Spain’s retail sales MoM trend is down since the current value of -0.8 is lower than the 12 month moving average of 0.233333.


Spain Construction Sector

Construction Activity Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
Construction sector -0.1 -6.9 -0.985507 -0.996296 1.0 1.0 0.183333 2021-04-01
Construction - Current Order Books -4.1 -4.9 -0.163265 -0.705036 1.0 1.0 0.1 2021-04-01
Construction - Prices over next 3 months 2 -4.1 -1.4878 -1.38462 1.0 1.0 0.233333 2021-04-01
Construction - Employment over next 3 months 3.8 -8.8 -1.43182 -1.09476 1.0 1.0 0.366667 2021-04-01
new home sales 9.2 8.52 0.0798122 1.15356 1.0 1.0 1 2021-05-31
housing starts 0.9 0.73 0.232877 1.5 1.0 1.0 0.85 2021-03-31
housing index 1625.4 1622.3 0.00191087 0.0375335 1.0 1.0 0.55 2021-01-01
Construction - Building Activity (past 3 months) 4 -3.3 -2.21212 -1.09132 1.0 1.0 0.4 2021-04-01
Construction - Factors Limiting (None) 52.6 15.3 2.43791 1.82796 1.0 1.0 0.933333 2021-04-01
Construction - Factors Limiting (Insufficient Demand) 46.7 42.3 0.104019 -0.035124 -1.0 -1.0 0.5 2021-04-01
Construction - Factors Limiting (Weather) -1 0.4 -3.5 -6 -1.0 -1.0 0.0666667 2021-04-01
Construction - Factors Limiting (Shortage of labour force) 4.8 8.5 -0.435294 -0.127273 -1.0 -1.0 0.416667 2021-04-01
Construction - Factors Limiting (Shortage of material - equipment) 0.2 0.7 -0.714286 -0.92 -1.0 -1.0 0.183333 2021-04-01
Construction - Factors Limiting (Other) -0.4 47.9 -1.00835 -1.01166 -1.0 -1.0 0.0166667 2021-04-01
Construction - Factors Limiting (Financial Constraints) 3.9 0.7 4.57143 -0.580645 1.0 -1.0 0.233333 2021-04-01

Spain’s Construction sector icnreased to -16.0 by 2308.0% on January 2021 from -13.0 in the previous . On a year on year basis Spain’s Construction sector increased by 667.0%. Spain’s Construction sector trend is down since the current value of -16.0 is lower than the 12 month moving average of -18.5.Spain’s Construction – Current Order Books icnreased to -20.0 by 3333.0% on January 2021 from -15.0 in the previous . On a year on year basis Spain’s Construction – Current Order Books increased by 3333.0%. Spain’s Construction – Current Order Books trend is down since the current value of -20.0 is lower than the 12 month moving average of -17.8333.Spain’s Construction – Prices over next 3 months icnreased to -5.0 by 15000.0% on January 2021 from -2.0 in the previous . On a year on year basis Spain’s Construction – Prices over next 3 months decreased by -17143.0%. Spain’s Construction – Prices over next 3 months trend is down since the current value of -5.0 is lower than the 12 month moving average of 1.25.Spain’s Construction – Employment over next 3 months icnreased to -12.0 by 909.0% on January 2021 from -11.0 in the previous . On a year on year basis Spain’s Construction – Employment over next 3 months decreased by -2000.0%. Spain’s Construction – Employment over next 3 months trend is down since the current value of -12.0 is lower than the 12 month moving average of -19.0.Spain’s new home sales decreased to 7.697 by -8.24% on October 2020 from 8.388 in the previous Monthly. On a year on year basis Spain’s new home sales decreased by -2.91%. Spain’s new home sales trend is down since the current value of 7.697 is lower than the 12 month moving average of 6.80383.Spain’s housing starts icnreased to 0.59 by 68.57% on September 2020 from 0.35 in the previous Monthly. On a year on year basis Spain’s housing starts decreased by -32.95%. Spain’s housing starts trend is down since the current value of 0.59 is lower than the 12 month moving average of 0.720833.Spain’s housing index icnreased to 1619.6 by 0.59% on May 2020 from 1610.1 in the previous Quarterly. On a year on year basis Spain’s housing index increased by 5.17%. Spain’s housing index trend is down since the current value of 1619.6 is lower than the 12 month moving average of 1613.03.Spain’s Construction – Building Activity (past 3 months) icnreased to -34.0 by 10000.0% on January 2021 from -17.0 in the previous . On a year on year basis Spain’s Construction – Building Activity (past 3 months) increased by 38571.0%. Spain’s Construction – Building Activity (past 3 months) trend is down since the current value of -34.0 is lower than the 12 month moving average of -25.75.Spain’s Construction – Factors Limiting (None) icnreased to 18.0 by 2000.0% on January 2021 from 15.0 in the previous . On a year on year basis Spain’s Construction – Factors Limiting (None) decreased by -6000.0%. Spain’s Construction – Factors Limiting (None) trend is down since the current value of 18.0 is lower than the 12 month moving average of 26.0833.Spain’s Construction – Factors Limiting (Insufficient Demand) decreased to 40.0 by -698.0% on January 2021 from 43.0 in the previous . Spain’s Construction – Factors Limiting (Insufficient Demand) trend is down since the current value of 40.0 is lower than the 12 month moving average of 49.3333.Spain’s Construction – Factors Limiting (Weather) decreased to 1.0 by -20000.0% on January 2021 from -1.0 in the previous . On a year on year basis Spain’s Construction – Factors Limiting (Weather) decreased by -20000.0%. Spain’s Construction – Factors Limiting (Weather) trend is down since the current value of 1.0 is lower than the 12 month moving average of 1.0.Spain’s Construction – Factors Limiting (Shortage of labour force) decreased to 3.0 by -5714.0% on January 2021 from 7.0 in the previous . On a year on year basis Spain’s Construction – Factors Limiting (Shortage of labour force) decreased by -5714.0%. Spain’s Construction – Factors Limiting (Shortage of labour force) trend is down since the current value of 3.0 is lower than the 12 month moving average of 6.16667.Spain’s Construction – Factors Limiting (Shortage of material / equipment) decreased to 1.0 by -6667.0% on January 2021 from 3.0 in the previous . On a year on year basis Spain’s Construction – Factors Limiting (Shortage of material / equipment) decreased by -20000.0%. Spain’s Construction – Factors Limiting (Shortage of material / equipment) trend is down since the current value of 1.0 is lower than the 12 month moving average of 1.16667.Spain’s Construction – Factors Limiting (Other) decreased to 48.0 by -769.0% on January 2021 from 52.0 in the previous . On a year on year basis Spain’s Construction – Factors Limiting (Other) increased by 22000.0%. Spain’s Construction – Factors Limiting (Other) trend is down since the current value of 48.0 is lower than the 12 month moving average of 30.75.Spain’s Construction – Factors Limiting (Financial Constraints) icnreased to 3.0 by 20000.0% on January 2021 from 1.0 in the previous . On a year on year basis Spain’s Construction – Factors Limiting (Financial Constraints) decreased by -5714.0%. Spain’s Construction – Factors Limiting (Financial Constraints) trend is down since the current value of 3.0 is lower than the 12 month moving average of 4.91667.

Spain GDP

Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
Real GDP 288284 290028 -0.00601321 -0.0326787 -1.0 -1.0 0.25 2021-03-01
gdp growth annual -4.2 -8.9 -0.52809 -2.5 -1.0 -1.0 0.183333 2021-01-01
gdp 1394.12 1419.74 -0.0180456 -0.0529912 1.0 -1.0 0 2019-01-31
gdp growth -0.4 17.1 -1.02339 -1.57143 -1.0 -1.0 0.333333 2021-01-01

Spain’s Real GDP icnreased to 287363.0 by 16.88% on July 2020 from 245867.0 in the previous Quarterly. On a year on year basis Spain’s Real GDP decreased by -1.65%. Spain’s Real GDP trend is down since the current value of 287363.0 is lower than the 12 month moving average of 298382.0.Spain’s gdp growth annual decreased to -8.7 by -59.53% on May 2020 from -21.5 in the previous Quarterly. On a year on year basis Spain’s gdp growth annual decreased by -410.71%. Spain’s gdp growth annual trend is down since the current value of -8.7 is lower than the 12 month moving average of -1.18333.Spain’s gdp decreased to 1394.12 by -1.8% on January 2019 from 1419.74 in the previous Yearly. On a year on year basis Spain’s gdp decreased by -5.3%. Spain’s gdp trend is down since the current value of 1394.12 is lower than the 12 month moving average of 1384.41.Spain’s gdp growth decreased to 16.7 by -193.82% on July 2020 from -17.8 in the previous Quarterly. On a year on year basis Spain’s gdp growth increased by 3240.0%. Spain’s gdp growth trend is down since the current value of 16.7 is lower than the 12 month moving average of -0.15.

Spain inflation

Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
inflation cpi 2.7 2.7 0 -4 1.0 1.0 0.15 2021-06-30
core inflation rate 0.2 0.3 -0.333333 -0.818182 -1.0 -1.0 0.0333333 2021-05-31
consumer price index cpi 107.32 106.81 0.00477483 0.0272806 1.0 1.0 0.966667 2021-06-30
Producer Price Index 110.1 108.2 0.0175601 0.15288 1.0 1.0 1 2021-05-31
PPI Index 15.3 12.8 0.195312 -2.73864 1.0 1.0 0.1 2021-05-31

Spain’s inflation cpi decreased to -0.5 by -37.5% on November 2020 from -0.8 in the previous Monthly. On a year on year basis Spain’s inflation cpi decreased by -600.0%. Spain’s inflation cpi trend is down since the current value of -0.5 is lower than the 12 month moving average of -0.141667.Spain’s core inflation rate decreased to 0.2 by -33.33% on October 2020 from 0.3 in the previous Monthly. On a year on year basis Spain’s core inflation rate decreased by -80.0%. Spain’s core inflation rate trend is down since the current value of 0.2 is lower than the 12 month moving average of 0.833333.Spain’s consumer price index cpi icnreased to 104.68 by 0.22% on December 2020 from 104.45 in the previous Monthly. On a year on year basis Spain’s consumer price index cpi decreased by -0.52%. Spain’s consumer price index cpi trend is down since the current value of 104.68 is lower than the 12 month moving average of 104.055.Spain’s Producer Price Index icnreased to 99.8 by 0.76% on November 2020 from 99.05 in the previous Monthly. On a year on year basis Spain’s Producer Price Index decreased by -2.82%. Spain’s Producer Price Index trend is down since the current value of 99.8 is lower than the 12 month moving average of 99.3375.Spain’s PPI Index decreased to -2.8 by -31.71% on November 2020 from -4.1 in the previous Monthly. On a year on year basis Spain’s PPI Index increased by 16.67%. Spain’s PPI Index trend is down since the current value of -2.8 is lower than the 12 month moving average of -4.29167.


Spain Government Policy

Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
government budget -11 -2.9 2.7931 1.5 -1.0 -1.0 0 2020-01-31
Government budget -30628 -16891 0.813273 -0.050324 1.0 1.0 0.6 2021-05-31

Spain’s Government budget icnreased to -72322.0 by 25.26% on November 2020 from -57736.0 in the previous Monthly. On a year on year basis Spain’s Government budget increased by 558.25%. Spain’s Government budget trend is down since the current value of -72322.0 is lower than the 12 month moving average of -37059.9.


Spain Monetary Policy

Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
interest rate 0.05 0.05 0 0 1.0 -1.0 0.791667 2016-03-09
central bank balance sheet 1095410 1079160 0.015058 0.178442 1.0 1.0 0.483333 2021-06-30
banks balance sheet 2925.7 2921.5 0.00143762 0.0433651 1.0 1.0 0.8 2021-04-30
money supply m1 1262180 1245540 0.0133597 0.0949105 1.0 1.0 0.216667 2021-05-31
money supply m2 1386890 1373830 0.00950627 0.0587027 1.0 1.0 0.616667 2021-05-31
money supply m3 1429020 1416430 0.00888854 0.0567877 1.0 1.0 0.716667 2021-05-31

Spain’s interest rate Spain’s interest rate trend is down since the current value of 0.05 is lower than the 12 month moving average of 0.05.Spain’s central bank balance sheet icnreased to 972913.0 by 1.19% on October 2020 from 961504.0 in the previous Monthly. On a year on year basis Spain’s central bank balance sheet increased by 35.88%. Spain’s central bank balance sheet trend is down since the current value of 972913.0 is lower than the 12 month moving average of 837230.0.Spain’s banks balance sheet decreased to 2920.6 by -0.19% on July 2020 from 2926.2 in the previous Monthly. On a year on year basis Spain’s banks balance sheet increased by 8.9%. Spain’s banks balance sheet trend is down since the current value of 2920.6 is lower than the 12 month moving average of 2760.81.Spain’s money supply m2 decreased to 1343940.0 by -0.02% on October 2020 from 1344200.0 in the previous Monthly. On a year on year basis Spain’s money supply m2 increased by 9.15%. Spain’s money supply m2 trend is down since the current value of 1343940.0 is lower than the 12 month moving average of 1294560.0.

 

Spain Employment

Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
EEI - Employment Composite 104.9 94.5 0.110053 0.584592 1.0 1.0 1 2021-04-01
unemployment rate 15.98 16.13 -0.00929944 -0.0454002 1.0 -1.0 0.5 2020-07-01
youth unemployment rate 36.9 38 -0.0289474 -0.0634518 -1.0 -1.0 0.6 2021-05-31
long term unemployment rate 6.3 5.7 0.105263 -0.1 1.0 -1.0 0.516667 2021-01-01

Spain’s EEI – Employment Composite decreased to 86.8 by -545.0% on January 2021 from 91.8 in the previous . On a year on year basis Spain’s EEI – Employment Composite decreased by -1630.0%. Spain’s EEI – Employment Composite trend is down since the current value of 86.8 is lower than the 12 month moving average of 91.275.Spain’s unemployment rate icnreased to 16.26 by 6.07% on May 2020 from 15.33 in the previous Quarterly. On a year on year basis Spain’s unemployment rate decreased by -0.73%. Spain’s unemployment rate trend is down since the current value of 16.26 is lower than the 12 month moving average of 14.9992.Spain’s youth unemployment rate decreased to 40.4 by -7.97% on September 2020 from 43.9 in the previous Monthly. On a year on year basis Spain’s youth unemployment rate increased by 25.47%. Spain’s youth unemployment rate trend is down since the current value of 40.4 is lower than the 12 month moving average of 36.0333.Spain’s long term unemployment rate icnreased to 5.0 by 21.95% on May 2020 from 4.1 in the previous Quarterly. On a year on year basis Spain’s long term unemployment rate decreased by -29.58%. Spain’s long term unemployment rate trend is down since the current value of 5.0 is lower than the 12 month moving average of 5.66667.


Spain Trade & Capital Flows

Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
current account 729 3335 -0.781409 -0.666514 1.0 -1.0 0.133333 2020-12-31
current account to gdp 0.7 2.1 -0.666667 -1.07527 1.0 1.0 0 2020-01-31
exports 28268300 23542000 0.20076 0.298546 1.0 1.0 1 2021-03-31
imports 27062000 27138200 -0.00280785 0.556146 1.0 1.0 0.983333 2021-05-31
balance of trade 140100 -1296900 -1.10803 0.125952 1.0 1.0 0.6 2021-05-31
capital flows 1781 5414 -0.671038 0.251581 1.0 1.0 0.716667 2021-04-30
foreign direct investment 2151 2798 -0.231237 -0.53861 1.0 -1.0 0.4 2021-04-30

Spain’s current account decreased to 304.0 by -77.55% on September 2020 from 1354.0 in the previous Monthly. On a year on year basis Spain’s current account decreased by -73.97%. Spain’s current account trend is down since the current value of 304.0 is lower than the 12 month moving average of 1004.42.Spain’s current account to gdp icnreased to 2.0 by 5.26% on January 2019 from 1.9 in the previous Yearly. On a year on year basis Spain’s current account to gdp decreased by -120.83%. Spain’s current account to gdp trend is down since the current value of 2.0 is lower than the 12 month moving average of -0.541667.Spain’s exports icnreased to 25281700.0 by 8.74% on October 2020 from 23250300.0 in the previous Monthly. On a year on year basis Spain’s exports decreased by -5.88%. Spain’s exports trend is down since the current value of 25281700.0 is lower than the 12 month moving average of 21775900.0.Spain’s imports icnreased to 25932500.0 by 4.82% on October 2020 from 24740000.0 in the previous Monthly. On a year on year basis Spain’s imports decreased by -11.91%. Spain’s imports trend is down since the current value of 25932500.0 is lower than the 12 month moving average of 23085300.0.Spain’s balance of trade decreased to -650700.0 by -56.32% on October 2020 from -1489770.0 in the previous Monthly. On a year on year basis Spain’s balance of trade decreased by -74.75%. Spain’s balance of trade trend is down since the current value of -650700.0 is lower than the 12 month moving average of -1309440.0.Spain’s bank lending rate icnreased to 1.66 by 4.4% on October 2020 from 1.59 in the previous Monthly. On a year on year basis Spain’s bank lending rate increased by 27.2%. Spain’s bank lending rate trend is down since the current value of 1.66 is lower than the 12 month moving average of 1.50408.Spain’s capital flows decreased to -1271.0 by -134.37% on October 2020 from 3698.0 in the previous Monthly. On a year on year basis Spain’s capital flows decreased by -137.87%. Spain’s capital flows trend is down since the current value of -1271.0 is lower than the 12 month moving average of 1893.08.Spain’s foreign direct investment decreased to 2946.0 by -14.9% on September 2020 from 3462.0 in the previous Monthly. On a year on year basis Spain’s foreign direct investment decreased by -32.86%. Spain’s foreign direct investment trend is down since the current value of 2946.0 is lower than the 12 month moving average of 751.583.


Spain Reserves

Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
foreign exchange reserves 66865.8 66238.4 0.00947185 -0.0277092 -1.0 -1.0 0.183333 2021-06-30
gold reserves 281.58 281.6 -0.0000710227 0 -1.0 -1.0 0.708333 2020-07-01

Spain’s foreign exchange reserves decreased to 66523.4 by -2.79% on November 2020 from 68435.0 in the previous Monthly. On a year on year basis Spain’s foreign exchange reserves decreased by -1.13%. Spain’s foreign exchange reserves trend is down since the current value of 66523.4 is lower than the 12 month moving average of 68114.6.Spain’s gold reserves decreased to 281.58 by -0.01% on July 2020 from 281.6 in the previous Quarterly. Spain’s gold reserves trend is down since the current value of 281.58 is lower than the 12 month moving average of 281.593.Spain’s government debt icnreased to 1308090000.0 by 1.35% on May 2020 from 1290660000.0 in the previous Quarterly. On a year on year basis Spain’s government debt increased by 15.13%. Spain’s government debt trend is down since the current value of 1308090000.0 is lower than the 12 month moving average of 1204100000.0.Spain’s government debt to gdp decreased to 95.5 by -2.15% on January 2019 from 97.6 in the previous Yearly. On a year on year basis Spain’s government debt to gdp increased by 168.26%. Spain’s government debt to gdp trend is down since the current value of 95.5 is lower than the 12 month moving average of 82.8083.Spain’s external debt icnreased to 2208330000.0 by 0.08% on May 2020 from 2206500000.0 in the previous Quarterly. On a year on year basis Spain’s external debt increased by 14.6%. Spain’s external debt trend is down since the current value of 2208330000.0 is lower than the 12 month moving average of 2073820000.0.

Spain Debt

Debt Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
government debt 1392730000 1345570000 0.0350483 0.199998 1.0 1.0 0 2021-01-01
government debt to gdp 120 95.5 0.256545 2.03797 1.0 1.0 0 2020-01-31
external debt 2270040000 2236170000 0.0151464 0.147998 1.0 1.0 0.716667 2021-01-01

Spain’s government debt icnreased to 1308090000.0 by 1.35% on May 2020 from 1290660000.0 in the previous Quarterly. On a year on year basis Spain’s government debt increased by 15.13%. Spain’s government debt trend is down since the current value of 1308090000.0 is lower than the 12 month moving average of 1204100000.0.Spain’s government debt to gdp decreased to 95.5 by -2.15% on January 2019 from 97.6 in the previous Yearly. On a year on year basis Spain’s government debt to gdp increased by 168.26%. Spain’s government debt to gdp trend is down since the current value of 95.5 is lower than the 12 month moving average of 82.8083.Spain’s external debt icnreased to 2208330000.0 by 0.08% on May 2020 from 2206500000.0 in the previous Quarterly. On a year on year basis Spain’s external debt increased by 14.6%. Spain’s external debt trend is down since the current value of 2208330000.0 is lower than the 12 month moving average of 2073820000.0.

Spain Banking activity

Fiscal Policy Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
interbank rate -0.38 -0.38 0 0 1.0 -1.0 0.508333 2021-06-02
bank lending rate 1.54 1.22 0.262295 -0.0860534 1.0 -1.0 0.4 2021-05-31
loan growth 6.5 7.8 -0.166667 1.09677 1.0 1.0 0.683333 2021-04-30
loans to private sector 464930 468510 -0.00764125 -0.0223361 -1.0 -1.0 0.683333 2021-05-31

Spain’s interbank rate Spain’s interbank rate trend is down since the current value of -0.38 is lower than the 12 month moving average of -0.38.Spain’s balance of trade decreased to -650700.0 by -56.32% on October 2020 from -1489770.0 in the previous Monthly. On a year on year basis Spain’s balance of trade decreased by -74.75%. Spain’s balance of trade trend is down since the current value of -650700.0 is lower than the 12 month moving average of -1309440.0.Spain’s bank lending rate icnreased to 1.66 by 4.4% on October 2020 from 1.59 in the previous Monthly. On a year on year basis Spain’s bank lending rate increased by 27.2%. Spain’s bank lending rate trend is down since the current value of 1.66 is lower than the 12 month moving average of 1.50408.Spain’s loan growth icnreased to 4.7 by 14.63% on June 2020 from 4.1 in the previous Monthly. On a year on year basis Spain’s loan growth increased by 147.37%. Spain’s loan growth trend is down since the current value of 4.7 is lower than the 12 month moving average of 1.94167.Spain’s loans to private sector decreased to 471374.0 by -0.11% on October 2020 from 471910.0 in the previous Monthly. On a year on year basis Spain’s loans to private sector increased by 7.77%. Spain’s loans to private sector trend is down since the current value of 471374.0 is lower than the 12 month moving average of 456572.0.

 

Spain macroeconomic model analysis

The two most important economic indicators of the Spain economy are real economic growth expectations and inflation. MacroVar uses Spain Manufacturing ESI Order Books to gauge economic growth expectations and Spain Manufacturing ESI Selling Price expectations of next months to gauge inflation expectations. Spain’s economy is healthy when it generates stable economic growth with low inflation. Policymakers (the government and the central bank) use fiscal and monetary policy to inject liquidity during slowdowns (to solve weak economic growth) and withdraw liquidity from an overheating economy (to solve high inflation).

The four economic environments

There are 4 economic environments based on economic growth and inflationary conditions. Financial assets are affected by economic growth and inflation expectations as explained in the diagram below.
MacroVar Growth Inflation Model

  • Inflation boom: Accelerating Economic growth with Rising inflation – Monetary Policy response: Hawkish
  • Stagflation: Slowing Economic Growth with Rising Inflation – Monetary Policy response: Dilemma
  • Disinflation boom: Accelerating Economic growth with Slowing Inflation – Monetary Policy response: Neutral
  • Deflation Bust: : Slowing Economic Growth with Falling Inflation – Monetary Policy response: Dovish
Read more on how to analyze a country’s macroeconomics in detail. MacroVar also provides a detailed analysis of  the global economy and the 40 largest economic in the world.Click here to learn more.

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