Markets Actual Q1 Q2 Q3 Q4 2022
Currency 1.20 1.2 1.2 1.19 1.19 1.18
Stock Market (points) 8370.34 8157 7988 7823 7660 7336
Government Bond 10Y (%) 0.39 0.44 0.48 0.53 0.58 0.69

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 0.40 -0.7 0.8 3.6 2 0.5
GDP Annual Growth Rate (%) -9.10 0.4 19.5 8.1 4.5 2
Unemployment Rate (%) 16.13 19.1 19.6 18.8 18.2 16
Inflation Rate (%) 0.00 0.4 1.2 1.1 1.4 1.5
Inflation Rate Mom (%) -0.60 0.2 0.4 0.3 0.5 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) -1073000.00 -1800000 -3000000 -4000000 -1900000 -1900000
Current Account (EUR Million) 729.00 1980 2600 1480 1950 2480
Current Account to GDP (%) 2.00 2.5 2.5 2.5 2.5 2
Government Debt to GDP (%) 95.50 121 121 121 121 118
Government Budget (% of GDP) -2.80 -7 -7 -7 -7 -3.2
Business Confidence (points) -6.40 -0.2 -6 -7 -10 -10
Manufacturing PMI (points) 52.90 54 54 53.4 51.5 53.4
Services PMI (points) 43.10 51 53.7 52.5 52.5 52.9
Consumer Confidence (points) 55.70 70 69 72 75 85
Retail Sales MoM (%) 1.00 0.9 0.8 -0.8 0.5 0.5
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 0.40 -0.7 0.8 3.6 2 0.5
GDP Annual Growth Rate (%) -9.10 0.4 19.5 8.1 4.5 2
GDP (USD Billion) 1394.12 1280 1280 1280 1280 1380
GDP Constant Prices (EUR Million) 289143.00 298579 293890 310799 300449 306458
Gross Fixed Capital Formation (EUR Million) 56037.00 59514 55805 61808 59750 60945
GDP per capita (USD) 33349.70 32000 32000 32000 32000 32900
GDP per capita PPP (USD) 40883.30 38800 38800 38800 38800 39660
GDP From Agriculture (EUR Million) 9312.00 8400 10671 9283 8973 9153
GDP From Construction (EUR Million) 15578.00 16687 16884 18055 17454 17803
GDP From Manufacturing (EUR Million) 34425.00 31977 30667 35803 34610 35303
GDP From Public Administration (EUR Million) 54259.00 51574 62491 57121 55219 56323
GDP From Services (EUR Million) 195857.00 203391 201048 206940 200049 204050
GDP From Transport (EUR Million) 54789.00 59418 44094 56329 54453 55542

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 16.13 19.1 19.6 18.8 18.2 16
Employed Persons (Thousand ) 19344.30 16100 16500 17100 17700 18500
Unemployed Persons (Thousand ) 4008.79 5100 5000 4850 4420 3800
Unemployment Change (Thousand ) 44.44 12 -40 -26 -36 -20
Long Term Unemployment Rate (%) 5.00 7.24 7.84 8.34 4.4 6.94
Youth Unemployment Rate (%) 40.70 42.64 43.24 43.74 42.94 42.34
Labour Costs (points) 99.40 112 107 102 97.06 108
Wages (EUR/Month) 1859.12 2100 2042 1899 1822 2073
Minimum Wages (EUR/Month) 1108.33 1108 1108 1108 1108 1210
Population (Million) 46.94 47.05 47.05 47.05 47.05 47.18
Retirement Age Women 65.83 66 66 66 66 66.17
Retirement Age Men 65.83 66 66 66 66 66.17
Labor Force Participation Rate (%) 58.19 56.5 57.2 57.5 57.7 58.5
Wage Growth (%) -0.52 0.5 1 1.2 1.5 1.9
Employment Change (%) 1.20 0.3 0.5 0.4 0.4 0.3
Employment Rate (%) 48.81 46 47.4 47.8 49 50

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 0.00 0.4 1.2 1.1 1.4 1.5
Inflation Rate Mom (%) -0.60 0.2 0.4 0.3 0.5 0.5
Harmonised Consumer Prices (points) 103.25 104 106 105 110 107
Consumer Price Index CPI (points) 104.06 104 106 105 106 108
Core Consumer Prices (points) 103.03 104 106 105 106 107
Core Inflation Rate (%) 0.60 0.5 1.2 1.3 1.4 1.4
Producer Prices (points) 104.20 99.39 99.74 103 103 106
Producer Prices Change (%) 0.90 0.5 2.3 3.4 2.6 2.6
Food Inflation (%) 1.70 2 2.1 1.8 1.7 1.8
CPI Housing Utilities (points) 107.14 101 101 103 104 106
CPI Transportation (points) 106.74 107 105 105 107 108

Money Actual Q1 Q2 Q3 Q4 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) 2900.60 3230 3360 3300 3280 3170
Loans to Private Sector (EUR Million) 467972.00 459010 492322 486067 487054 499718
Loan Growth (%) 6.00 3.6 3.4 3 3.2 2.6
Private Debt to GDP (%) 194.10 202 202 202 202 198
Central Bank Balance Sheet (EUR Million) 1003669.00 969000 967000 965000 962000 1019000

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (EUR Thousand) -1073000.00 -1800000 -3000000 -4000000 -1900000 -1900000
Current Account (EUR Million) 729.00 1980 2600 1480 1950 2480
Current Account to GDP (%) 2.00 2.5 2.5 2.5 2.5 2
Imports (EUR Thousand) 23834700.00 22500000 21800000 25900000 25200000 28400000
Exports (EUR Thousand ) 22761700.00 19500000 17800000 21500000 22600000 22600000
Foreign Direct Investment (EUR Million) 1955.00 2920 3060 1250 4500 3650
Tourist Arrivals (Thousand) 434.36 2900 4600 6500 2400 3720
Tourism Revenues (EUR Million) 395.00 2250 2850 3400 2840 3640
External Debt (EUR Thousand) 2208328000.00 2295000000 2287000000 2324000000 2363000000 2323000000

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 95.50 121 121 121 121 118
Government Budget (% of GDP) -2.80 -7 -7 -7 -7 -3.2
Government Spending (EUR Million) 64768.00 74240 73450 72500 71900 69300
Government Spending to GDP (%) 41.90 46 46 46 46 43
Government Debt (EUR Thousand) 1308085199.00 1301000000 1321000000 1314000000 1299000000 1279000000

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
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 Q1 Q2 Q3 Q4 2022
Business Confidence (points) -6.40 -0.2 -6 -7 -10 -10
Manufacturing PMI (points) 52.90 54 54 53.4 51.5 53.4
Services PMI (points) 43.10 51 53.7 52.5 52.5 52.9
Industrial Production (%) -0.60 7.8 12 5.6 5.1 2.6
Industrial Production Mom (%) 1.10 0.4 0.3 -1 0.4 0.5
Manufacturing Production (%) -2.00 8.2 14 6.3 5.5 3.2
Total Vehicle Sales 58279.00 65500 98800 65900 95500 105200
Car Production (Hundred Units) 1728.00 1510 1680 1450 1370 1510
Car Registrations 112037.00 101800 67900 102500 109500 125500

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 55.70 70 69 72 75 85
Retail Sales MoM (%) 1.00 0.9 0.8 -0.8 0.5 0.5
Retail Sales YoY (%) -1.50 8.5 12 5.7 5.6 2.6
Consumer Spending (EUR Million) 161073.00 165354 155844 169753 164099 167381
Disposable Personal Income (EUR Million) 204323.00 208965 276223 220873 213518 217788
Consumer Credit (EUR Thousand) 637067121.00 646284097 772553957 688669558 665735141 679049844
Private Sector Credit (EUR Million) 1187268.00 1203730 1252770 1227930 1238301 1270497
Bank Lending Rate (%) 1.12 1.12 1.12 1.12 1.12 1.12
Households Debt To GDP (% of GDP) 60.60 62 62 62 62 60
Households Debt To Income (%) 93.01 102 102 102 102 100
Gasoline Prices (USD/Liter) 1.59 1.47 1.4 1.33 1.26 1.2

Housing Actual Q1 Q2 Q3 Q4 2022
Construction Output (%) -0.60 12 19 5.7 6.5 6.5
Housing Index (EUR/SQ. METRE) 1622.30 1410 1450 1470 1490 1650
Mortgage Approvals (Units) 26128.00 24100 26300 19500 26700 28700
New Home Sales (Thousand units) 7.39 3.8 4 5.5 7.5 9.8
Housing Starts (Thousand units) 0.59 0.7 1 0.9 1.1 1.1
Home Ownership Rate (%) 76.30 76.2 76.2 76.2 76.2 75.8
Existing Home Sales (Thousand) 28.72 26 25 23 26 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.