Markets Actual Q3 Q4 Q1 Q2 2021
Currency 1.13 1.13 1.12 1.12 1.11 1.11
Stock Market (points) 7234.10 7084 6938 6794 6653 6371
Government Bond 10Y (%) 0.43 0.39 0.43 0.47 0.52 0.61

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -5.20 7.8 4 2.5 1.7 1
GDP Annual Growth Rate (%) -4.10 -9.3 -6.2 -0.4 14.5 4.5
Unemployment Rate (%) 14.41 18.9 19 18.7 18.3 17.2
Inflation Rate (%) -0.30 -0.4 -0.3 0.4 1.2 1.4
Inflation Rate Mom (%) 0.50 -0.2 0.3 0.2 0.4 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) -1520000.00 -1700000 -1800000 -3000000 17591600 -1900000
Current Account (EUR Million) -1530.00 900 1040 1980 2600 1950
Current Account to GDP (%) 2.00 3.2 3.2 2.5 2.5 2.5
Government Debt to GDP (%) 95.50 115 115 112 112 112
Government Budget (% of GDP) -2.80 -10 -10 -7 -7 -7
Business Confidence (points) -23.40 -18 -16 -10 -3 -10
Manufacturing PMI (points) 49.00 42 47 50.8 54 51.5
Services PMI (points) 50.20 43 48.4 51 53.7 52.9
Consumer Confidence (points) 60.70 55 64 70 69 75
Retail Sales MoM (%) 19.30 -1.1 -0.7 0.9 0.8 0.5
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -5.20 7.8 4 2.5 1.7 1
GDP Annual Growth Rate (%) -4.10 -9.3 -6.2 -0.4 14.5 4.5
GDP (USD Billion) 1394.12 1200 1200 1280 1280 1280
GDP Constant Prices (EUR Million) 299661.00 302214 296136 298462 343112 309462
Gross Fixed Capital Formation (EUR Million) 59984.00 60962 58971 59744 68682 61625
GDP per capita (USD) 33349.70 31100 31100 32000 32000 32000
GDP per capita PPP (USD) 40883.30 37900 37900 38800 38800 38800
GDP From Agriculture (EUR Million) 8509.00 8201 7965 8475 9743 8323
GDP From Construction (EUR Million) 16849.00 17858 17485 16782 19292 18272
GDP From Manufacturing (EUR Million) 31859.00 33545 32865 31732 36479 34344
GDP From Public Administration (EUR Million) 52147.00 49378 48389 51938 59708 50566
GDP From Services (EUR Million) 204832.00 204843 201544 204013 234533 210614
GDP From Transport (EUR Million) 60052.00 65176 63911 59812 68760 66787

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 14.41 18.9 19 18.7 18.3 17.2
Unemployment Change (Thousand ) 5.10 44 -32.1 -12 -40 -36
Long Term Unemployment Rate (%) 5.10 6.8 6.9 6.6 6.2 6.2
Youth Unemployment Rate (%) 32.90 34.9 35 34.7 34.3 34.3
Labour Costs (points) 101.10 97.89 107 102 102 108
Wages (EUR/Month) 1889.78 1828 2042 1899 1909 2073
Minimum Wages (EUR/Month) 1050.00 1050 1050 1050 1050 1050
Population (Million) 46.94 46.92 46.92 47.05 47.05 47.05
Retirement Age Women 65.83 65.83 65.83 66 66 66
Retirement Age Men 65.83 65.83 65.83 66 66 66
Labor Force Participation Rate (%) 58.18 55 55.5 56.5 57.2 57.7
Wage Growth (%) -1.55 -2.6 -1.6 0.5 1 1.5
Employment Change (%) -1.00 0.3 -0.8 0.3 0.5 0.4
Employment Rate (%) 63.60 60.6 60.2 60.5 61.2 61.6

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) -0.30 -0.4 -0.3 0.4 1.2 1.4
Inflation Rate Mom (%) 0.50 -0.2 0.3 0.2 0.4 0.5
Harmonised Consumer Prices (points) 104.83 104 105 104 106 106
Consumer Price Index CPI (points) 104.51 104 105 104 106 106
Core Consumer Prices (points) 104.42 103 104 104 106 106
Core Inflation Rate (%) 1.10 0.6 0.5 0.8 1.2 1.4
Producer Prices (points) 95.60 98.38 100 99.39 97.8 103
Producer Prices Change (%) -8.70 -4.3 -1.8 0.5 2.3 2.6
Food Inflation (%) 2.80 2.5 1.9 2 2.1 1.7
CPI Housing Utilities (points) 98.57 103 103 101 99.75 104
CPI Transportation (points) 101.87 109 110 107 103 111

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.38 -0.38 -0.38 -0.38 -0.38 -0.38
Banks Balance Sheet (EUR Billion) 2815.30 2920 3040 3230 3360 3280
Loans to Private Sector (EUR Million) 475552.00 456236 452464 459010 491721 466943
Loan Growth (%) 2.80 4 3.9 3.6 3.4 3.2
Private Debt to GDP (%) 194.10 204 204 202 202 202
Central Bank Balance Sheet (EUR Million) 831183.00 856000 861000 869000 867000 862000

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Thousand) -1520000.00 -1700000 -1800000 -3000000 17591600 -1900000
Current Account (EUR Million) -1530.00 900 1040 1980 2600 1950
Current Account to GDP (%) 2.00 3.2 3.2 2.5 2.5 2.5
Imports (EUR Thousand) 16561344.17 17500000 19500000 22500000 208400 23200000
Exports (EUR Thousand ) 15042773.10 15800000 17700000 19500000 17800000 22600000
Foreign Direct Investment (EUR Million) 4346.00 -1870 -2320 2920 3060 4500
Tourist Arrivals (Thousand) 0.00 3000 2300 2900 4600 2900
Tourism Revenues (EUR Million) 1681.00 2360 1250 2250 2850 2840
External Debt (EUR Thousand) 2147127000.00 2222000000 2255000000 2295000000 2287000000 2363000000

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 95.50 115 115 112 112 112
Government Budget (% of GDP) -2.80 -10 -10 -7 -7 -7
Government Spending (EUR Million) 60441.00 69170 72220 74240 73450 71900
Government Spending to GDP (%) 41.90 50 50 46 46 46
Government Debt (EUR Thousand) 1224160712.00 1261000000 1271000000 1301000000 1321000000 1299000000

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 36.25 36.25 36.25 36.25 36.25 36.25
Social Security Rate For Companies (%) 29.90 29.9 29.9 29.9 29.9 29.9
Social Security Rate For Employees (%) 6.35 6.35 6.35 6.35 6.35 6.35

Business Actual Q3 Q4 Q1 Q2 2021
Business Confidence (points) -23.40 -18 -16 -10 -3 -10
Manufacturing PMI (points) 49.00 42 47 50.8 54 51.5
Services PMI (points) 50.20 43 48.4 51 53.7 52.9
Industrial Production (%) -24.50 -6.8 -3 7.8 12 5.1
Industrial Production Mom (%) 14.70 -1.6 0.5 0.4 0.3 0.4
Manufacturing Production (%) -26.50 -7 -3.6 8.2 14 5.5
Total Vehicle Sales 82651.00 57900 85500 65500 98800 95500
Car Production (Hundred Units) 733.00 1190 1220 1510 1680 1370
Car Registrations 4386.00 75600 98800 101800 67900 109500
Mining Production (%) -0.80 2 1.5 1.5 1.5 1.2

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 60.70 55 64 70 69 75
Retail Sales MoM (%) 19.30 -1.1 -0.7 0.9 0.8 0.5
Retail Sales YoY (%) -19.00 -6.2 -3.2 8.5 12 5.6
Consumer Spending (EUR Million) 166252.00 171221 166503 165587 190359 173996
Disposable Personal Income (EUR Million) 209939.00 200945 233032 247441 284458 243518
Consumer Credit (EUR Thousand) 643709260.00 623952003 607335348 641134423 737047103 634665439
Private Sector Credit (EUR Million) 1196643.00 1211756 1203834 1203730 1237329 1242357
Bank Lending Rate (%) 1.67 1.67 1.67 1.67 1.67 1.67
Households Debt To GDP (% of GDP) 56.90 64 64 62 62 62
Households Debt To Income (%) 95.21 105 105 102 102 102
Gasoline Prices (USD/Liter) 1.34 1.27 1.21 1.15 1.09 1.04

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -32.60 -7.2 -3.6 12 19 6.5
Housing Index (EUR/SQ. METRE) 1640.40 1320 1360 1410 1450 1490
Mortgage Approvals (Units) 23840.00 17000 25100 24100 26300 26700
New Home Sales (Thousand units) 4.44 3 3.2 3.8 4 7.5
Housing Starts (Thousand units) 0.36 0.3 0.6 0.7 1 1.1
Home Ownership Rate (%) 76.30 76.4 76.4 76.2 76.2 76.2
Existing Home Sales (Thousand) 20.60 15 20 26 25 26


This page has economic forecasts for Spain including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Spain economy.