Markets Actual Q3 Q4 Q1 Q2 2023
Stock Market (points) 8176.10 7706 7450 7203 7203 6733
Currency 1.04 1.03 1.02 1.01 1.01 0.99
Government Bond 10Y (%) 2.27 3.09 3.4 3.74 3.74 4.52

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 0.20 0.1 0.2 0.2 0.4 0.6
GDP Annual Growth Rate (%) 6.30 2.9 1.8 2.5 3.5 3.7
Unemployment Rate (%) 13.65 12.7 12.4 12 11 11
Inflation Rate (%) 10.20 8.7 7.2 6 4.8 2
Inflation Rate Mom (%) 1.80 0.3 0.6 0.3 0.4 0.6
Interest Rate (%) 0.00 0.75 1.25 1.5 1.75 1.75
Balance of Trade (EUR Thousand) -6394400.00 -7000000 -7000000 -7800000 -7350000 -5500000
Current Account (EUR Million) -479.00 1890 2480 2090 2090 2220
Current Account to GDP (% of GDP) 0.70 0.3 0.3 1.1 1.1 1.1
Government Debt to GDP (% of GDP) 118.40 115 114 114 114 114
Government Budget (% of GDP) -6.90 -5 -5 -4.5 -4.5 -4.5
Business Confidence (points) 2.40 6 5 4.5 4.5 1
Manufacturing PMI (points) 52.60 54.6 54.4 54.2 54.2 53.8
Services PMI (points) 56.50 54.6 55 54.5 54.5 54.7
Consumer Confidence (points) 76.00 82 95 94 94 101
Retail Sales MoM (%) 0.00 -0.9 0.6 0.5 0.5 0.6
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 47.00 45 45 47 47 47

GDP Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 0.20 0.1 0.2 0.2 0.4 0.6
GDP Annual Growth Rate (%) 6.30 2.9 1.8 2.5 3.5 3.7
GDP (USD Billion) 1281.20 1450 1450 1450 1450 1510
GDP Constant Prices (EUR Million) 317760.00 307431 313847 325266 325704 337301
Gross Fixed Capital Formation (EUR Million) 65940.00 62283 62796 63895 67589 66259
GDP per capita (USD) 24935.40 32900 32900 32900 32900 33800
GDP per capita PPP (USD) 36215.45 39660 39660 39660 39660 40260
GDP From Agriculture (EUR Million) 7984.00 8024 8320 8778 8184 9103
GDP From Construction (EUR Million) 15561.00 16330 15923 16331 15950 16935
GDP From Manufacturing (EUR Million) 34835.00 34494 35035 37183 35706 38559
GDP From Public Administration (EUR Million) 55006.00 57715 56549 55452 56381 57504
GDP From Services (EUR Million) 211757.00 208120 211669 216415 217051 224422
GDP From Transport (EUR Million) 67088.00 57637 62835 67417 68765 69911

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 13.65 12.7 12.4 12 11 11
Employed Persons (Thousand ) 20084.70 19840 19900 19900 19900 20400
Unemployed Persons (Thousand ) 2922.99 3360 3260 3260 3260 3180
Unemployment Change (Thousand ) -99.51 -43 -20 -20 -20 -14
Long Term Unemployment Rate (%) 5.60 5.15 4.65 4.35 3.95 3.95
Youth Unemployment Rate (%) 27.10 26.15 25.85 25.45 24.45 24.45
Labour Costs (points) 113.10 113 108 116 116 118
Wages (EUR/Month) 2006.61 2147 2015 2220 2057 2264
Minimum Wages (EUR/Month) 1125.83 1210 1210 1210 1210 1270
Population (Million) 47.33 47.85 47.85 47.85 47.85 48.21
Retirement Age Women 66.00 66.17 66.17 66.17 66.17 66.25
Retirement Age Men 66.00 66.17 66.17 66.17 66.17 66.25
Labor Force Participation Rate (%) 58.50 59.2 59.5 59.5 59.5 59.8
Employment Change (%) 1.00 0.3 0.4 0.4 0.4 0.4
Employment Rate (%) 50.51 50.6 50.7 50.7 50.7 51
Wage Growth (%) 5.18 3.2 2.5 2.5 2.5 2

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 10.20 8.7 7.2 6 4.8 2
Inflation Rate Mom (%) 1.80 0.3 0.6 0.3 0.4 0.6
Consumer Price Index CPI (points) 110.23 110 109 111 114 114
Harmonised Consumer Prices (points) 118.16 118 117 119 122 122
Core Consumer Prices (points) 105.09 109 108 103 104 105
Core Inflation Rate (%) 4.90 3.4 1.5 1.2 0.9 1.2
Producer Prices (points) 158.00 132 140 159 163 144
Producer Prices Change (%) 43.60 7.4 2.8 3 3 2.5
Food Inflation (%) 10.98 5.3 3.2 3.2 1 0.5
Harmonised Inflation Rate YoY (%) 10.00 9.4 7.8 4.5 3.2 2.5
CPI Housing Utilities (points) 113.81 122 127 121 132 123
CPI Transportation (points) 113.64 116 116 117 117 118

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 0.00 0.75 1.25 1.5 1.75 1.75
Interbank Rate (%) -0.38 0.37 0.87 1.12 1.37 1.37
Banks Balance Sheet (EUR Billion) 2985.20 3240 3290 3290 3290 3340
Loans to Private Sector (EUR Million) 468760.00 477561 485995 479329 482823 500575
Loan Growth (%) 3.30 3.2 3 3 3 3
Private Debt to GDP (%) 212.00 198 198 198 198 195
Central Bank Balance Sheet (EUR Million) 1214192.00 1181000 1199000 1199000 1199000 1239000

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (EUR Thousand) -6394400.00 -7000000 -7000000 -7800000 -7350000 -5500000
Current Account (EUR Million) -479.00 1890 2480 2090 2090 2220
Current Account to GDP (% of GDP) 0.70 0.3 0.3 1.1 1.1 1.1
Imports (EUR Thousand) 37707600.00 39500000 39700000 39500000 39400000 39000000
Exports (EUR Thousand ) 31313200.00 32500000 31900000 32150000 33050000 33500000
Foreign Direct Investment (EUR Million) 284.00 1980 3650 3650 3650 3870
Tourist Arrivals (Thousand) 6102.14 5100 3220 3220 3220 4150
External Debt (EUR Thousand) 2341053000.00 2415000000 2423000000 2423000000 2423000000 2494000000
Tourism Revenues (EUR Million) 2487.00 2980 3640 3640 3640 4340

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 118.40 115 114 114 114 114
Government Budget (% of GDP) -6.90 -5 -5 -4.5 -4.5 -4.5
Government Spending (EUR Million) 66786.00 64000 64800 64800 68456 66400
Government Spending to GDP (% of GDP) 52.30 46 46 46 46 44
Government Debt (EUR Thousand) 1453853221.00 1421000000 1429000000 1429000000 1429000000 1446000000

Taxes Actual Q3 Q4 Q1 Q2 2023
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 47.00 45 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 2023
Business Confidence (points) 2.40 6 5 4.5 4.5 1
Manufacturing PMI (points) 52.60 54.6 54.4 54.2 54.2 53.8
Services PMI (points) 56.50 54.6 55 54.5 54.5 54.7
Industrial Production (%) 2.40 4.3 3.4 3.4 3.4 3.4
Industrial Production Mom (%) 2.10 -0.9 0.5 0.5 0.5 0.4
Manufacturing Production (%) 2.07 4.5 3.8 3.8 3.8 3.8
Car Production (Hundred Units) 1596.00 2320 1710 1710 1710 1940
Car Registrations 89057.00 108900 125500 125500 125500 136500
Total Vehicle Sales (Units) 89252.00 92200 123200 123200 123200 134900
Composite Pmi (points) 55.70 54.7 55 55 55 54.5

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Confidence (points) 76.00 82 95 94 94 101
Retail Sales MoM (%) 0.00 -0.9 0.6 0.5 0.5 0.6
Retail Sales YoY (%) 1.40 4.5 3.4 3.4 3.4 3.4
Consumer Spending (EUR Million) 170629.00 171326 170273 175276 174895 181761
Disposable Personal Income (EUR Million) 218716.00 216754 253507 224184 226371 262887
Consumer Credit (EUR Thousand) 642988843.00 681625327 659054923 653967484 659063564 678164281
Private Sector Credit (EUR Million) 1191257.00 1225236 1228772 1218985 1226995 1265636
Bank Lending Rate (%) 0.76 0.76 1.51 2.01 2.26 2.26
Households Debt To GDP (% of GDP) 59.90 60 60 60 60 59
Households Debt To Income (%) 94.93 100 100 100 100 98
Gasoline Prices (USD/Liter) 2.29 2.41 2.49 2.58 2.68 2.68

Housing Actual Q3 Q4 Q1 Q2 2023
Construction Output (%) -3.80 4.4 3.6 3.6 3.6 3.6
Housing Index (EUR/SQ. METRE) 1734.00 1817 1850 1816 1838 1910
Home Ownership Rate (%) 75.10 75.8 75.8 75.8 75.8 75.7
Housing Starts (Thousand units) 1.09 2.3 2.9 2.9 2.9 2.7
New Home Sales (Thousand units) 8.79 9.1 9.8 9.8 9.8 11
Mortgage Approvals (Units) 33423.00 30600 28700 28700 28700 30400
Existing Home Sales (Thousand) 38.56 36 32 32 32 37


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Spain Forecast - was last updated on Saturday, July 2, 2022.