Spain | DANA: Real-time monitoring of the economic impact

Summary

Five weeks after the DANA (December 3–9), most indicators in Valencia province displayed stronger performance than those in the rest of Spain. However, foreign card spending continued to lag behind the national growth rate.

Key points

• Key points:
• In-store purchases in Valencia province increased by 12.3% year-on-year, slightly below the previous week’s 16.8% growth, which had been boosted by the positive impact of Black Friday.
• Spending with Spanish cards remained robust, rising 12.6% year-on-year in the latest week. However, the rebound in foreign card spending observed the previous week tapered off, with growth slowing to 1.3% year-on-year.
• Most sectors outperformed those in the rest of Spain, with standout growth in automotive, leisure, and technology. However, some tourism-related sectors, such as travel and accommodation, saw slower growth and recorded a negative differential compared to national trends.
• Cash withdrawals rose 10.4% year-on-year, five weeks after the DANA.
• The recovery is becoming more widespread, with weekly growth rates accelerating across Valencia. Significant progress is also evident in the municipalities that were initially hardest hit by the DANA.

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