Markets Actual Q4 Q1 Q2 Q3 2022
Currency 1.13 1.13 1.12 1.12 1.11 1.1
Stock Market (points) 8470.87 8148 7928 7716 7508 7109
Government Bond 10Y (%) 0.44 0.48 0.52 0.58 0.63 0.77

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.00 1 1.2 0.7 0.8 0.7
GDP Annual Growth Rate (%) 2.70 3.8 5.9 6.1 4.9 5
Unemployment Rate (%) 14.57 15.4 15.2 14.9 14.7 14.4
Inflation Rate (%) 5.60 5.3 3.5 2.4 1.7 0.8
Inflation Rate Mom (%) 0.40 0.5 0.8 0.4 0.3 0.6
Interest Rate (%) 0.00 0 0 0 0 0.1
Balance of Trade (EUR Thousand) -2396214.00 -300000 -800000 1800000 -1000000 -400000
Current Account (EUR Million) 980.00 1950 2050 2750 1890 2480
Current Account to GDP (% of GDP) 0.70 -0.1 0.3 0.3 0.3 0.3
Government Debt to GDP (% of GDP) 120.00 120 117 117 117 117
Government Budget (% of GDP) -11.00 -10.4 -5.2 -5.2 -5.2 -5.2
Business Confidence (points) 4.40 2.3 2 4.5 6 5
Manufacturing PMI (points) 57.40 55 54.2 54.4 54.6 54.4
Services PMI (points) 56.60 54.9 54 54.2 54.6 55
Consumer Confidence (points) 97.30 95 102 100 101 105
Retail Sales MoM (%) 0.30 0.5 1.1 0.9 -0.9 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 Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.00 1 1.2 0.7 0.8 0.7
GDP Annual Growth Rate (%) 2.70 3.8 5.9 6.1 4.9 5
GDP (USD Billion) 1281.20 1360 1450 1450 1450 1450
GDP Constant Prices (EUR Million) 301432.00 301327 304514 309875 316202 316394
Gross Fixed Capital Formation (EUR Million) 60502.00 61312 62868 62163 63467 64377
GDP per capita (USD) 24935.40 32000 32900 32900 32900 32900
GDP per capita PPP (USD) 36215.45 38800 39660 39660 39660 39660
GDP From Agriculture (EUR Million) 7393.00 9241 8969 8336 7755 9703
GDP From Construction (EUR Million) 15499.00 17172 16380 16394 16258 18030
GDP From Manufacturing (EUR Million) 34254.00 35445 34518 35084 35932 37217
GDP From Public Administration (EUR Million) 54986.00 55900 57443 58298 57680 58695
GDP From Services (EUR Million) 203877.00 201014 204842 210345 213867 211065
GDP From Transport (EUR Million) 58768.00 54404 56558 58178 61648 57124

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 14.57 15.4 15.2 14.9 14.7 14.4
Employed Persons (Thousand ) 20031.00 19690 19720 19780 19840 19900
Unemployed Persons (Thousand ) 3257.07 3250 3340 3410 3360 3260
Unemployment Change (Thousand ) -0.73 -36 -27 -60 -43 -20
Long Term Unemployment Rate (%) 6.60 4.4 7.23 6.93 6.73 6.43
Youth Unemployment Rate (%) 30.60 31.43 31.23 30.93 30.73 30.43
Labour Costs (points) 108.90 115 119 107 113 122
Wages (EUR/Month) 2064.37 2157 2263 1996 2147 2320
Minimum Wages (EUR/Month) 1108.33 1108 1210 1210 1210 1210
Population (Million) 47.33 47.5 47.85 47.85 47.85 47.85
Retirement Age Women 66.00 66 66.17 66.17 66.17 66.17
Retirement Age Men 66.00 66 66.17 66.17 66.17 66.17
Labor Force Participation Rate (%) 59.14 58.7 58.9 59.1 59.2 59.5
Employment Change (%) -0.90 0.4 0.5 0.6 0.3 0.4
Employment Rate (%) 50.52 49.7 50 50.4 50.6 50.7
Wage Growth (%) 16.67 9.8 4.6 4 3.2 2.5

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 5.60 5.3 3.5 2.4 1.7 0.8
Inflation Rate Mom (%) 0.40 0.5 0.8 0.4 0.3 0.6
Consumer Price Index CPI (points) 110.30 110 109 110 110 111
Harmonised Consumer Prices (points) 109.94 110 109 110 110 111
Core Consumer Prices (points) 105.36 105 105 106 106 107
Core Inflation Rate (%) 1.70 1.2 1.4 1.2 1.4 1.5
Producer Prices (points) 130.50 121 127 130 132 125
Producer Prices Change (%) 31.90 28.5 20.8 15.7 7.4 2.8
Food Inflation (%) 1.70 1.7 1.9 2 2.3 2.2
CPI Housing Utilities (points) 121.32 108 109 114 119 109
CPI Transportation (points) 116.52 117 118 119 119 120

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 0.00 0 0 0 0 0.1
Interbank Rate (%) -0.38 -0.38 -0.38 -0.38 -0.38 -0.28
Banks Balance Sheet (EUR Billion) 2948.00 3280 3200 3180 3240 3290
Loans to Private Sector (EUR Million) 462795.00 490263 487514 484568 477561 504971
Loan Growth (%) 5.80 4.2 3.6 3.2 3.2 3
Private Debt to GDP (%) 212.00 202 198 198 198 198
Central Bank Balance Sheet (EUR Million) 1156086.00 1162000 1172000 1179000 1181000 1199000

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (EUR Thousand) -2396214.00 -300000 -800000 1800000 -1000000 -400000
Current Account (EUR Million) 980.00 1950 2050 2750 1890 2480
Current Account to GDP (% of GDP) 0.70 -0.1 0.3 0.3 0.3 0.3
Imports (EUR Thousand) 30732903.34 24400000 29900000 22700000 26200000 25200000
Exports (EUR Thousand ) 28336689.45 24100000 29100000 24500000 25200000 24800000
Foreign Direct Investment (EUR Million) -7501.00 4500 3240 3260 1980 3650
Tourist Arrivals (Thousand) 4691.49 2400 3200 3460 5100 3220
Tourism Revenues (EUR Million) 4375.00 2840 2980 3200 2980 3640
External Debt (EUR Thousand) 2297180000.00 2363000000 2387000000 2407000000 2415000000 2423000000

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 120.00 120 117 117 117 117
Government Budget (% of GDP) -11.00 -10.4 -5.2 -5.2 -5.2 -5.2
Government Spending (EUR Million) 64589.00 64984 66894 67883 67754 68233
Government Spending to GDP (% of GDP) 52.30 49 46 46 46 46
Government Debt (EUR Thousand) 1424692247.00 1399000000 1402000000 1414000000 1421000000 1429000000

Taxes Actual Q4 Q1 Q2 Q3 2022
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 Q4 Q1 Q2 Q3 2022
Business Confidence (points) 4.40 2.3 2 4.5 6 5
Manufacturing PMI (points) 57.40 55 54.2 54.4 54.6 54.4
Services PMI (points) 56.60 54.9 54 54.2 54.6 55
Industrial Production (%) 1.20 5.1 4.6 5.4 4.3 3.4
Industrial Production Mom (%) 0.30 0.4 0.6 0.8 -0.9 0.5
Manufacturing Production (%) 3.30 5.5 4.6 5.1 4.5 3.8
Total Vehicle Sales (Units) 59044.00 112500 91200 102300 92200 123200
Car Production (Hundred Units) 1297.00 1670 1890 1710 2320 1710
Car Registrations 81760.00 115500 89500 95600 108900 125500
Composite Pmi (points) 56.20 54.8 54.6 54.4 54.7 55

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 97.30 95 102 100 101 105
Retail Sales MoM (%) 0.30 0.5 1.1 0.9 -0.9 0.6
Retail Sales YoY (%) -0.10 5.6 4.5 5.2 4.5 3.4
Consumer Spending (EUR Million) 164354.00 164893 166107 173829 172407 173137
Disposable Personal Income (EUR Million) 245028.00 250025 220177 259975 257034 262526
Consumer Credit (EUR Thousand) 648549312.00 661741453 673760151 688110820 680328228 694828526
Private Sector Credit (EUR Million) 1187179.00 1246800 1234272 1245978 1225236 1284204
Bank Lending Rate (%) 1.61 1.61 1.61 1.61 1.61 1.71
Households Debt To GDP (% of GDP) 62.80 62 60 60 60 60
Households Debt To Income (%) 94.93 102 100 100 100 100
Gasoline Prices (USD/Liter) 1.76 1.67 1.59 1.51 1.43 1.36

Housing Actual Q4 Q1 Q2 Q3 2022
Construction Output (%) -7.20 6.5 5.1 5.6 4.4 3.6
Housing Index (EUR/SQ. METRE) 1661.60 1708 1682 1689 1690 1722
Housing Starts (Thousand units) 0.94 2.5 1.6 1.8 2.3 2.9
Home Ownership Rate (%) 76.20 76.2 75.8 75.8 75.8 75.8
Mortgage Approvals (Units) 33105.00 26700 36200 30200 30600 28700
New Home Sales (Thousand units) 10.93 7.5 8 8.4 9.1 9.8
Existing Home Sales (Thousand) 42.48 26 40 32 36 32


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 Monday, November 29, 2021.