Spain's 3.3% GDP Growth in 2024: Resilience Amidst Persistent Challenges
Spain's 2024 GDP grew by 3.3% year-on-year, driven by domestic consumption (2.6 percentage points) and exports (1.6 percentage points), despite challenges like wage inequality and low productivity.
Spain's 3.3% GDP Growth in 2024: Resilience Amidst Persistent Challenges
Spain's 2024 GDP grew by 3.3% year-on-year, driven by domestic consumption (2.6 percentage points) and exports (1.6 percentage points), despite challenges like wage inequality and low productivity.
Progress
32% Bias Score
Slowdown in Spanish Retail Sales Growth in November 2024
Spanish retail sales grew 1% year-on-year in November 2024, slower than October's 3.4% and below forecasts, primarily due to decreased food and non-food spending; however, year-to-date growth stands at 1.5%, with Q3 showing strong gains in consumer and tech goods.
Slowdown in Spanish Retail Sales Growth in November 2024
Spanish retail sales grew 1% year-on-year in November 2024, slower than October's 3.4% and below forecasts, primarily due to decreased food and non-food spending; however, year-to-date growth stands at 1.5%, with Q3 showing strong gains in consumer and tech goods.
Progress
24% Bias Score
Spain Extends Pandemic Accounting Moratorium for Two Years
Spain extended its pandemic-era accounting moratorium for two years, allowing companies to exclude 2020-2021 losses from solvency calculations until 2026, benefiting tourism businesses and state-rescued firms, and those affected by October's severe weather. This measure helps businesses that were re...
Spain Extends Pandemic Accounting Moratorium for Two Years
Spain extended its pandemic-era accounting moratorium for two years, allowing companies to exclude 2020-2021 losses from solvency calculations until 2026, benefiting tourism businesses and state-rescued firms, and those affected by October's severe weather. This measure helps businesses that were re...
Progress
44% Bias Score
Spain's Economy Booms: Record Public Spending Fuels 0.8% GDP Growth in Q3 2024
Spain's GDP grew 0.8% in Q3 2024, driven by a record 2.5% increase in public consumption and 1.2% rise in household spending, exceeding EU counterparts despite a 1.3% investment drop.
Spain's Economy Booms: Record Public Spending Fuels 0.8% GDP Growth in Q3 2024
Spain's GDP grew 0.8% in Q3 2024, driven by a record 2.5% increase in public consumption and 1.2% rise in household spending, exceeding EU counterparts despite a 1.3% investment drop.
Progress
52% Bias Score
Spain to Reduce Standard Work Week to 37.5 Hours
Spain is set to reduce its standard work week to 37.5 hours, despite disagreements on implementation timing between the Ministries of Labor and Economy. The agreement, nearing completion with unions, plans for a transitional period for existing contracts, with a target date of 2025.
Spain to Reduce Standard Work Week to 37.5 Hours
Spain is set to reduce its standard work week to 37.5 hours, despite disagreements on implementation timing between the Ministries of Labor and Economy. The agreement, nearing completion with unions, plans for a transitional period for existing contracts, with a target date of 2025.
Progress
44% Bias Score
Madrid Economists Warn of Financial Collapse from Catalonia's Singular Financing
The Madrid College of Economists warns that the proposed singular financing for Catalonia, if approved, would lead to the collapse of the national and regional financial system, due to the agreement between PSOE and Esquerra, which grants Catalonia total control over tax collection and may cause oth...
Madrid Economists Warn of Financial Collapse from Catalonia's Singular Financing
The Madrid College of Economists warns that the proposed singular financing for Catalonia, if approved, would lead to the collapse of the national and regional financial system, due to the agreement between PSOE and Esquerra, which grants Catalonia total control over tax collection and may cause oth...
Progress
60% Bias Score
Spanish Household Savings Surge to 7.1% in Q3 2024
Spanish household savings surged to 7.1% of gross disposable income in Q3 2024, a 1.6-point increase year-on-year, driven by lower inflation (2.5% annual average), strong job growth (21.3 million employed), and wage increases.
Spanish Household Savings Surge to 7.1% in Q3 2024
Spanish household savings surged to 7.1% of gross disposable income in Q3 2024, a 1.6-point increase year-on-year, driven by lower inflation (2.5% annual average), strong job growth (21.3 million employed), and wage increases.
Progress
24% Bias Score
Spanish Economists Criticize New Bank and Energy Taxes
Spain's General Council of Economists criticizes new taxes on banks and energy companies, starting in 2025, citing a lack of economic justification and concerns over legal uncertainty and the potential demonization of profitable businesses. The tax on energy companies may not even pass parliamentary...
Spanish Economists Criticize New Bank and Energy Taxes
Spain's General Council of Economists criticizes new taxes on banks and energy companies, starting in 2025, citing a lack of economic justification and concerns over legal uncertainty and the potential demonization of profitable businesses. The tax on energy companies may not even pass parliamentary...
Progress
52% Bias Score
Spanish Industrial Prices Rise 0.9% in November 2023
Spanish industrial prices rose 0.9% year-on-year in November 2023, ending 20 months of decline, primarily due to a 15.3 percentage point increase in energy prices; however, five regions still saw negative rates.
Spanish Industrial Prices Rise 0.9% in November 2023
Spanish industrial prices rose 0.9% year-on-year in November 2023, ending 20 months of decline, primarily due to a 15.3 percentage point increase in energy prices; however, five regions still saw negative rates.
Progress
36% Bias Score
Spain's Resilient Economy Faces Mounting Debt and Global Uncertainties
Despite global headwinds, Spain's economy has shown unexpected resilience, with GDP growth exceeding expectations since 2022, driven by strong consumption, exports (up 21.3%), and a healthy private sector; however, high public debt and global uncertainties pose significant long-term risks.
Spain's Resilient Economy Faces Mounting Debt and Global Uncertainties
Despite global headwinds, Spain's economy has shown unexpected resilience, with GDP growth exceeding expectations since 2022, driven by strong consumption, exports (up 21.3%), and a healthy private sector; however, high public debt and global uncertainties pose significant long-term risks.
Progress
48% Bias Score
BSH to Close Navarra Plant, 660 Jobs Affected
BSH, a German home appliance manufacturer, will close its Esquíroz (Navarra) plant in six months, impacting 660 employees due to persistent market difficulties and competition despite a national profit of 60 million euros in 2023.
BSH to Close Navarra Plant, 660 Jobs Affected
BSH, a German home appliance manufacturer, will close its Esquíroz (Navarra) plant in six months, impacting 660 employees due to persistent market difficulties and competition despite a national profit of 60 million euros in 2023.
Progress
48% Bias Score
"Spain's Economic Measures to Heavily Impact SMEs in 2025"
"Spain's government plans to raise the minimum wage by around 4% in 2025, reduce the maximum legal workweek to 37.5 hours, and increase social security contributions, leading to concerns from Spain's SME employers' association (Cepyme) about the impact on smaller businesses, whose labor costs are al...
"Spain's Economic Measures to Heavily Impact SMEs in 2025"
"Spain's government plans to raise the minimum wage by around 4% in 2025, reduce the maximum legal workweek to 37.5 hours, and increase social security contributions, leading to concerns from Spain's SME employers' association (Cepyme) about the impact on smaller businesses, whose labor costs are al...
Progress
48% Bias Score