Exchange Rate in Spain
Spain - Exchange Rate
The 28 April general election yielded a more fragmented parliament amid the breakthrough of the far-right Vox party. Moreover, in line with what opinion polls had anticipated, the Socialist Party (PSOE) won the largest number of seats in Congress, setting the stage for Prime Minister Pedro Sánchez to build a governing coalition. The results suggest that this will take the form of a left-of-center alliance comprised of PSOE, left-wing Unidas Podemos and a number of smaller, regional parties. Coalition talks are set to be long and difficult, however, especially if Catalan separatist parties are to play any role in the partnership. That said, heightened political uncertainty stemming from any protracted period of negotiations is unlikely to meaningfully impact the near-term economic outlook, as fundamentals remain sound. Despite Q4 2018 growth having been revised down, the election falls against the backdrop of still-solid economic activity; retail sales quickened in February which, combined with healthy job creation and improved consumer sentiment through March, point to upbeat household spending in Q1.Spain - Exchange Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 1.38 | 1.21 | 1.09 | 1.05 | 1.20 |
Spain Exchange Rate Chart
Source: Thomson Reuters.
Spain Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.97 | 5.62 % | May 10 |
| Exchange Rate | 1.12 | 0.65 % | May 13 |
| Stock Market | 9,047 | -0.74 % | May 13 |
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Economic News
Spain: Industrial production contracts again in March
May 9, 2019
Industrial production fell 3.1% year-on-year in seasonally- and calendar-adjusted terms in March, following February’s revised 0.2% decline (previously reported: -0.3% year-on-year).
Spain: Composite PMI falls to seven-month low in April
May 6, 2019
Largely reflecting slower activity growth in the services sector, the IHS Markit composite Purchasing Managers’ Index (PMI) dipped to a seven-month low of 52.9 in April from 55.4 in March.
Spain: Coalition talks create uncertainty but unlikely to dent near-term economic outlook
April 30, 2019
Spain’s general election on 28 April delivered a more fragmented Congress amid the breakthrough of the far-right Vox party as a major political force.
Spain: Housing permits growth eases in February
April 30, 2019
According to data published by the Ministry of Public Works, the Spanish Board of Architects approved 9,168 new construction permits in February.
Spain: Retail sales moderate at end of Q1
April 30, 2019
Retail sales rose 0.3% in year-on-year terms in March, following the 1.7% upturn logged in February.
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