Markets Actual Q3 Q4 Q1 Q2 2022
Currency 1.17 1.17 1.16 1.16 1.15 1.14
Stock Market (points) 8759.26 8489 8228 7974 7729 7260
Government Bond 10Y (%) 0.37 0.41 0.45 0.5 0.55 0.66
2 Year Note Yield (%) -0.54 0.05 0.11 0.17 0.24 0.28

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.80 3.2 2.7 1.2 0.7 0.7
GDP Annual Growth Rate (%) 19.80 7 8 9.5 8.6 3.6
Unemployment Rate (%) 15.26 15.1 15.4 15.2 14.9 14.4
Inflation Rate (%) 3.30 3.4 2.8 2.2 1.9 1.5
Inflation Rate Mom (%) 0.50 0.3 0.5 0.8 0.4 0.6
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) -977700.00 -1000000 -1900000 0 1800000 -400000
Current Account (EUR Million) 277.00 1480 1950 2050 2750 2480
Current Account to GDP (% of GDP) 0.70 -0.1 -0.1 0.3 0.3 0.3
Government Debt to GDP (% of GDP) 120.00 120 120 117 117 117
Government Budget (% of GDP) -11.00 -10.4 -10.4 -5.2 -5.2 -5.2
Business Confidence (points) 1.20 1 6.3 2 2.5 5
Manufacturing PMI (points) 59.50 59.1 54 54.2 54.4 54.4
Services PMI (points) 60.10 58.9 54.5 54 54.2 55
Consumer Confidence (points) 91.60 95 98 102 100 105
Retail Sales MoM (%) 0.10 -0.8 0.5 1.1 0.9 0.6
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 47.00 47 45 47 47 47

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.80 3.2 2.7 1.2 0.7 0.7
GDP Annual Growth Rate (%) 19.80 7 8 9.5 8.6 3.6
GDP (USD Billion) 1281.20 1280 1280 1380 1380 1380
GDP Constant Prices (EUR Million) 297717.00 308967 313230 315671 323321 324507
Gross Fixed Capital Formation (EUR Million) 57533.00 61851 63101 63795 62481 65373
GDP per capita (USD) 29600.35 32000 32000 32900 32900 32900
GDP per capita PPP (USD) 36215.45 38800 38800 39660 39660 39660
GDP From Agriculture (EUR Million) 8287.00 9389 9803 9442 9000 10156
GDP From Construction (EUR Million) 15525.00 18043 17929 16920 16860 18575
GDP From Manufacturing (EUR Million) 34293.00 35487 37272 36495 37242 38614
GDP From Public Administration (EUR Million) 55202.00 56577 58202 59535 59949 60298
GDP From Services (EUR Million) 200895.00 206509 208767 212172 218172 216283
GDP From Transport (EUR Million) 56532.00 56277 57313 57528 61394 59377

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 15.26 15.1 15.4 15.2 14.9 14.4
Employed Persons (Thousand ) 19671.70 19400 19500 19720 19800 19900
Unemployed Persons (Thousand ) 3333.92 3680 3700 3640 3620 3420
Unemployment Change (Thousand ) -82.58 59 -36 -27 -60 -20
Long Term Unemployment Rate (%) 6.30 6.14 6.44 6.24 5.94 5.64
Youth Unemployment Rate (%) 35.10 34.94 35.24 35.04 34.74 34.44
Labour Costs (points) 102.50 106 107 113 107 116
Wages (EUR/Month) 2064.37 1999 2152 1996 2147 2206
Minimum Wages (EUR/Month) 1108.33 1108 1108 1210 1210 1210
Population (Million) 47.33 47.5 47.5 47.85 47.85 47.85
Retirement Age Women 66.00 66 66 66.17 66.17 66.17
Retirement Age Men 66.00 66 66 66.17 66.17 66.17
Labor Force Participation Rate (%) 58.58 57.9 57.7 57.9 58.2 58.5
Employment Change (%) -0.90 0.4 0.4 0.5 0.6 0.4
Employment Rate (%) 49.63 48.9 48.7 49 49.4 49.9
Wage Growth (%) 15.56 7.5 4.4 4.6 4 2.5

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 3.30 3.4 2.8 2.2 1.9 1.5
Inflation Rate Mom (%) 0.50 0.3 0.5 0.8 0.4 0.6
Consumer Price Index CPI (points) 107.00 107 108 107 109 109
Harmonised Consumer Prices (points) 106.62 107 107 108 110 109
Core Consumer Prices (points) 103.97 104 105 105 106 107
Core Inflation Rate (%) 0.70 0.7 1.2 1.4 1.2 1.5
Producer Prices (points) 114.50 108 108 109 117 111
Producer Prices Change (%) 15.30 8.4 6.9 3.6 3.7 2.8
Food Inflation (%) 1.90 1.4 1.7 1.9 2 2.2
CPI Housing Utilities (points) 112.71 105 106 107 113 107
CPI Transportation (points) 113.74 108 108 113 115 110

Money Actual Q3 Q4 Q1 Q2 2022
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) 2960.00 3200 3280 3200 3180 3290
Loans to Private Sector (EUR Million) 467550.00 488899 485558 486572 484568 500125
Loan Growth (%) 6.50 3.6 3.2 3.4 3.2 3
Private Debt to GDP (%) 212.00 202 202 198 198 198
Central Bank Balance Sheet (EUR Million) 1128868.00 1055000 1062000 1072000 1079000 1099000

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (EUR Thousand) -977700.00 -1000000 -1900000 0 1800000 -400000
Current Account (EUR Million) 277.00 1480 1950 2050 2750 2480
Current Account to GDP (% of GDP) 0.70 -0.1 -0.1 0.3 0.3 0.3
Imports (EUR Thousand) 28587400.00 25500000 24400000 29100000 22700000 25200000
Exports (EUR Thousand ) 27609600.00 24500000 24100000 29100000 24500000 24800000
Foreign Direct Investment (EUR Million) 5027.00 1250 4500 3240 3260 3650
Tourist Arrivals (Thousand) 4395.38 4500 2400 3200 3460 3220
Tourism Revenues (EUR Million) 1995.00 2400 2840 2980 3200 3640
External Debt (EUR Thousand) 2270036000.00 2324000000 2363000000 2387000000 2407000000 2423000000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 120.00 120 120 117 117 117
Government Budget (% of GDP) -11.00 -10.4 -10.4 -5.2 -5.2 -5.2
Government Spending (EUR Million) 64041.00 64500 64900 64200 64000 64800
Government Spending to GDP (% of GDP) 52.30 49 49 46 46 46
Government Debt (EUR Thousand) 1392732509.00 1414000000 1399000000 1402000000 1414000000 1429000000

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 47.00 47 45 47 47 47
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 2022
Business Confidence (points) 1.20 1 6.3 2 2.5 5
Manufacturing PMI (points) 59.50 59.1 54 54.2 54.4 54.4
Services PMI (points) 60.10 58.9 54.5 54 54.2 55
Industrial Production (%) 3.40 5.6 5.1 4.6 5.4 3.4
Industrial Production Mom (%) -1.10 -1 0.4 0.6 0.8 0.5
Manufacturing Production (%) 6.60 6.3 5.5 4.6 5.1 3.8
Total Vehicle Sales (Units) 47584.00 85900 112500 91200 102300 123200
Car Production (Hundred Units) 1463.00 2150 1670 1890 1710 1710
Car Registrations 76571.00 102500 115500 89500 95600 125500
Composite Pmi (points) 60.60 59.1 54.2 54.6 54.4 55

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) 91.60 95 98 102 100 105
Retail Sales MoM (%) 0.10 -0.8 0.5 1.1 0.9 0.6
Retail Sales YoY (%) 0.10 5.7 5.6 4.5 5.2 3.4
Consumer Spending (EUR Million) 171468.00 170207 172004 175615 186214 178196
Disposable Personal Income (EUR Million) 207910.00 220651 260142 227661 225790 269507
Consumer Credit (EUR Thousand) 636222994.00 681661819 688517119 696664178 690938171 713303735
Private Sector Credit (EUR Million) 1193204.00 1235083 1234834 1231889 1245978 1271879
Bank Lending Rate (%) 1.34 1.34 1.34 1.34 1.34 1.34
Households Debt To GDP (% of GDP) 62.50 62 62 60 60 60
Households Debt To Income (%) 93.01 102 102 100 100 100
Gasoline Prices (USD/Liter) 1.74 1.65 1.57 1.49 1.42 1.35

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) -13.20 5.7 6.5 5.1 5.6 3.6
Housing Index (EUR/SQ. METRE) 1625.40 1710 1750 1790 1760 1850
Housing Starts (Thousand units) 0.90 1.4 2.5 1.6 1.8 2.9
Home Ownership Rate (%) 76.20 76.2 76.2 75.8 75.8 75.8
Mortgage Approvals (Units) 37961.00 28500 26700 36200 30200 28700
New Home Sales (Thousand units) 9.36 5.5 7.5 8 8.4 9.8
Existing Home Sales (Thousand) 38.84 32 26 40 32 32


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.