Exchange Rate in Spain
Spain - Exchange RateThe economy rebounded robustly in Q2 as an accelerating vaccine rollout prompted the lifting of restrictions, which in turn fueled domestic demand. A sizable bounce-back in household consumption amid stronger consumer confidence and an improving labor market led Q2’s reading. However, the external sector weighed on growth and fixed investment contracted at a sharper pace, likely due to lingering economic uncertainty. The recovery should have carried over into Q3: An uptick in consumer sentiment, coupled with strong services and manufacturing PMI readings in July, point to expanding economic activity. Moreover, the country received EUR 9 billion—the first tranche of its EU recovery fund package—in mid-August, which should support activity ahead. That said, June’s data on the stock of public debt—which rose to a new record high in absolute terms—confirms the country’s weak public finances.
Spain - Exchange Rate Data
|Exchange Rate (vs USD)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
Spain Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||0.46||5.62 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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September 23, 2021
A second estimate revealed that the economy grew 1.1% on a seasonally-adjusted quarter-on-quarter basis in Q2—a much softer increase than the 2.8% expansion reported in the preliminary release, but still contrasting the 0.6% contraction recorded in the first quarter.
September 10, 2021
Industrial output grew 3.4% year-on-year in seasonally- and calendar-adjusted terms in July, which was a deterioration from June’s 11.0% increase.
September 3, 2021
The IHS Markit composite Purchasing Managers’ Index (PMI) dipped from 61.2 in July to 60.6 in August, reflecting milder growth in the services sector more than offsetting a stronger expansion in manufacturing activity.
September 2, 2021
Spain’s current account balance recorded a surplus of EUR 0.3 billion in June 2021, below the EUR 2.1 billion surplus logged in June 2020 and May 2021’s EUR 0.9 billion surplus.
September 1, 2021
Retail sales grew 0.1% year-on-year in July, softening from the 1.4% growth tallied in June.