Exchange Rate in Spain
Spain - Exchange Rate
On the heels of the worst downturn on record in Q1, caused by the nationwide lockdown announced in mid-March to curb Covid-19’s spread, the economy is set to reel even further in Q2 as the full brunt of containment measures is felt. In April, retail sales were decimated due to the closure of businesses, while the services PMI sank to a record low as output and new orders collapsed at unprecedented rates. The manufacturing PMI also plummeted, though less than that seen during the Great Recession. On a somewhat positive note, job losses eased in April and employment began to slowly recover through mid-May. Moreover, the gradual easing of restrictions nationwide came into full swing later in the month, with inbound tourism set to be restored in July—giving some hope to the battered industry. On the policy front, on 29 May, the government approved the creation of a monthly basic income scheme ranging from EUR 462–EUR 1,105 for poor households.Spain - Exchange Rate Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | - | - | - | - | - |
Spain Exchange Rate Chart
Source: Thomson Reuters.
Spain Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.46 | 5.62 % | Dec 31 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Spain: Industrial output contracts at sharpest pace on record in April on Covid-19 hit
June 5, 2020
Industrial output collapsed 33.6% year-on-year in seasonally- and calendar-adjusted terms in April, after plummeting 13.7% in March.
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Spain: Composite PMI emerges from record low but remains deep in contractionary territory in May
June 4, 2020
Reflecting weaker contractions of both the manufacturing and services sectors after they had collapsed in April, the IHS Markit composite Purchasing Managers’ Index (PMI) jumped to 29.2 in May from an unprecedented 9.2 in April.
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Spain: Current account balance swings to deficit in March
May 29, 2020
Spain’s current account balance recorded a deficit of EUR 1.1 billion in March, contrasting the EUR 1.1 billion surplus recorded in March 2019 and the EUR 1.3 billion surplus logged in February.
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Spain: Housing permits plummet in March; housing prices tick up in Q1
May 28, 2020
The Spanish Board of Architects approved 5,956 new construction permits in March, according to data published by the Ministry of Public Works.
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Spain: Retail sales crash at sharpest pace on record in April
May 28, 2020
Retail sales nosedived 31.5% year-on-year in April (March: -14.5% yoy) as stores were shut closed due to the nationwide lockdown.
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