Markets Actual Q3 Q4 Q1 Q2 2022
Currency 1.19 1.17 1.17 1.16 1.16 1.14
Stock Market (points) 8801.59 8443 8166 7898 7639 7146
Government Bond 10Y (%) 0.28 0.3 0.33 0.36 0.4 0.48

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -0.40 3.2 4 1.1 0.7 0.7
GDP Annual Growth Rate (%) -4.20 7 8 9.5 8.6 3
Unemployment Rate (%) 15.26 15.5 15.7 15.2 14.9 14.4
Inflation Rate (%) 2.90 2 1.8 1.1 1.2 1.1
Inflation Rate Mom (%) -0.70 0.3 0.5 0.8 0.4 0.6
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) 140100.00 -1000000 -300000 0 1800000 -400000
Current Account (EUR Million) 398.00 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 -8.4 -8.4 -5.2 -5.2 -5.2
Business Confidence (points) -1.10 8.9 6.3 2 2.5 5
Manufacturing PMI (points) 60.40 55.4 54 54.2 54.4 54.4
Services PMI (points) 62.50 58.5 54.5 54 54.2 55
Consumer Confidence (points) 97.50 95 98 102 100 105
Retail Sales MoM (%) 0.00 -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 (%) -0.40 3.2 4 1.1 0.7 0.7
GDP Annual Growth Rate (%) -4.20 7 8 9.5 8.6 3
GDP (USD Billion) 1281.20 1280 1280 1380 1380 1380
GDP Constant Prices (EUR Million) 288284.00 293769 324980 313230 314711 322627
Gross Fixed Capital Formation (EUR Million) 58260.00 56252 69284 63101 63345 64994
GDP per capita (USD) 29629.23 32000 32000 32900 32900 32900
GDP per capita PPP (USD) 36215.45 38800 38800 39660 39660 39660
GDP From Agriculture (EUR Million) 8623.00 11011 8471 9803 9016 10097
GDP From Construction (EUR Million) 15452.00 16704 19516 17929 16924 18467
GDP From Manufacturing (EUR Million) 33329.00 30600 40334 37272 36240 38390
GDP From Public Administration (EUR Million) 54370.00 62465 53021 58202 59426 59948
GDP From Services (EUR Million) 193764.00 201634 214529 208767 212144 215030
GDP From Transport (EUR Million) 52537.00 44912 70097 57313 56552 59033

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 15.26 15.5 15.7 15.2 14.9 14.4
Employed Persons (Thousand ) 19206.80 19400 19500 19720 19800 19900
Unemployed Persons (Thousand ) 3614.34 3680 3700 3640 3620 3420
Unemployment Change (Thousand ) -166.91 59 -36 -27 -60 -20
Long Term Unemployment Rate (%) 6.30 5.82 6.02 5.52 5.22 5.22
Youth Unemployment Rate (%) 36.90 37.12 37.52 37.72 37.22 36.72
Labour Costs (points) 102.50 106 107 113 107 116
Wages (EUR/Month) 1907.82 1984 1999 2152 1996 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 (%) 1.00 0.4 0.4 0.5 0.6 0.4
Employment Rate (%) 48.47 48.9 48.7 49 49.4 49.9
Wage Growth (%) 9.56 7.5 4.4 4.6 4 2.5

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 2.90 2 1.8 1.1 1.2 1.1
Inflation Rate Mom (%) -0.70 0.3 0.5 0.8 0.4 0.6
Consumer Price Index CPI (points) 106.55 106 107 106 109 108
Harmonised Consumer Prices (points) 106.20 106 106 106 109 107
Core Consumer Prices (points) 104.73 104 105 105 106 107
Core Inflation Rate (%) 0.20 0.7 1.2 1.4 1.2 1.5
Producer Prices (points) 112.50 108 108 109 117 111
Producer Prices Change (%) 15.40 8.4 6.9 3.6 3.7 2.8
Food Inflation (%) 1.10 1.4 1.7 1.9 2 2.2
CPI Housing Utilities (points) 111.14 104 105 106 112 106
CPI Transportation (points) 112.66 106 107 111 114 108

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) 2925.70 3200 3280 3200 3180 3290
Loans to Private Sector (EUR Million) 464930.00 500416 488899 485558 486572 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) 1095413.00 1055000 1062000 1072000 1079000 1099000

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (EUR Thousand) 140100.00 -1000000 -300000 0 1800000 -400000
Current Account (EUR Million) 398.00 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) 27062000.00 25500000 24400000 29100000 22700000 25200000
Exports (EUR Thousand ) 27202200.00 24500000 24100000 29100000 24500000 24800000
Foreign Direct Investment (EUR Million) 2151.00 1250 4500 3240 3260 3650
Tourist Arrivals (Thousand) 1363.62 4500 2400 3200 3460 3220
Tourism Revenues (EUR Million) 558.00 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 -8.4 -8.4 -5.2 -5.2 -5.2
Government Spending (EUR Million) 63209.00 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) -1.10 8.9 6.3 2 2.5 5
Manufacturing PMI (points) 60.40 55.4 54 54.2 54.4 54.4
Services PMI (points) 62.50 58.5 54.5 54 54.2 55
Industrial Production (%) 26.00 5.6 5.1 4.6 5.4 3.4
Industrial Production Mom (%) 4.30 -1 0.4 0.6 0.8 0.5
Manufacturing Production (%) 27.00 6.3 5.5 4.6 5.1 3.8
Total Vehicle Sales (Units) 96785.00 85900 112500 91200 102300 123200
Car Production (Hundred Units) 1463.00 2150 1670 1890 1710 1710
Car Registrations 85790.00 102500 115500 89500 95600 125500
Composite Pmi (points) 62.40 56.5 54.2 54.6 54.4 55

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) 97.50 95 98 102 100 105
Retail Sales MoM (%) 0.00 -0.8 0.5 1.1 0.9 0.6
Retail Sales YoY (%) 19.60 5.7 5.6 4.5 5.2 3.4
Consumer Spending (EUR Million) 160379.00 156975 184076 172004 174841 177164
Disposable Personal Income (EUR Million) 207910.00 276333 248328 260142 263755 267946
Consumer Credit (EUR Thousand) 636222994.00 681661819 688517119 696664178 690938171 709172633
Private Sector Credit (EUR Million) 1186418.00 1273366 1235083 1234834 1231889 1271879
Bank Lending Rate (%) 1.54 1.54 1.54 1.54 1.54 1.54
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) 1.71 1.62 1.54 1.47 1.39 1.32

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 6.50 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) 35225.00 28500 26700 36200 30200 28700
New Home Sales (Thousand units) 9.20 5.5 7.5 8 8.4 9.8
Existing Home Sales (Thousand) 37.83 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.