Spain Economic Outlook
March 28, 2017Spain’s economy rounded out a year of strong growth in 2016, underpinned by solid domestic demand and a well-performing external sector. Economic momentum has not shown any signs of abating in the first quarter of 2017, with industrial output accelerating in January and sentiment among manufacturers and service providers reaching an 18-month high in February. Nonetheless, Spanish households have started to feel the pinch of rising inflation and stagnant wage growth, with retail sales in January declining for the first time in two years. In the political arena, a dock labor reform bill was voted down by the country’s fragmented parliament on 16 March, underscoring the hardships that the minority government has to confront if it intends to pass any legislation. However, the government has already rallied enough support to pass a 2017 budget, which is slated to be presented to parliament on 4 April.
Spain Economy Data
5 years of Spain economic forecasts for more than 30 economic indicators.
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|Bond Yield||1.67||-1.47 %||Mar 27|
|Exchange Rate||1.09||-0.16 %||Mar 28|
|Stock Market||10,389||0.84 %||Mar 28|
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Spain Economic Growth
March 28, 2017Growth is set to experience a mild slowdown this year. Household consumption will moderate somewhat as the pace of job creation slows, wage growth remains muted and inflationary pressures mount. However, upbeat sentiment will encourage high capital expenditure, while the country’s exporting sector will continue to benefit from improved competitiveness and rising global trade. FocusEconomics panelists see GDP growing 2.5% in 2017, unchanged from last month’s forecast. For 2018, the panel sees growth easing to 2.2%.
Spain Economic News
March 10, 2017
Retail sales decreased 0.1% year-on-year in January, a downswing from December’s 0.9% increase.
March 8, 2017
Industrial production in Spain expanded 2.5% in working-day adjusted terms in January compared to the same month last year, above December’s revised 2.0% increase (previously reported: +1.9% year-on-year).
March 3, 2017
The Markit Purchasing Managers’ Index (PMI) Composite Output Index rose to 57.0 in February, up from January’s 54.7 and marking an 18-month high.
March 2, 2017
The Spanish economy ended 2016 on a positive note, buttressed by a well-performing domestic market and upbeat sentiment among exporting sectors.
February 28, 2017
In December, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 4,898 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento).