Filter all of our publications to find the ones you are most interested in by content language, date, geography and/or topic.
Sort our publications chronologically from newest to oldest, regardless of geography and/or topic matter.
Sort publications according to the number of time reads by our users, regardless of geography and/or topic matter.
April 17, 2025
High frequency data for 1Q25 point that the q/q growth will likely remain steady as in 4Q24, supported by the domestic demand. Despite the uncertainty on trade wars and recent tightening in financial conditions, we evaluate risks as balanced on our 2025 GDP growth forecast of 3.5%, given the strong buffer of 1Q25 growth.
April 15, 2025
In February, GDP grew 2.7% year-on-year, below the market consensus (3.4%), affected by a negative base effect. The non-primary component grew 2.5%, with construction being the most notable. The primary component grew 2.3%, driven by fishing and agriculture. Mining contracted due to lower gold and zinc production.
April 14, 2025
The temporary suspension of some of the measures has brought relief, but Europe and Spain have taken the opportunity to outline their strategy for addressing the increase in trade barriers and potentially more-negative scenarios.
April 9, 2025
The public deficit looks to have ended 2024 at 2.8% of GDP (excluding the funds set aside to support the victims of the flash floods that struck in October). It is exactly the size of the fiscal imbalance recorded back in 2019.
April 7, 2025
The latest Social Security enrollment figures for March come as welcome news for the Spanish economy, yet they are also a timely reminder that job creation alone is not enough in itself: we also need it to be more productive.
April 4, 2025
This study analyzes the macroeconomic effects of carbon price shocks (EU-ETS) via a SVAR with Narrative Sign Restrictions. Facilitating identification and isolating shocks from demand factors, results indicate a stronger economic impact than previous carbon policy studies, but milder than recent works focused on the EU-ETS.
April 1, 2025
In 2024, Madrid' GDP could have grown by 3.1%, and is expected to increase by 2.8% in 2025 and 2.0% in 2026. This strength is attributed to the robust performance of the services sector, particularly in tourism, as well as the domestic demand, where consumer spending has been increasing its weight.
March 26, 2025
Activity grew again by 0.8% QoQ in 4Q24, driven by domestic demand despite sluggish external demand. GDP growth was supported by increased hours worked, as productivity declined. Overall, GDP grew by 3.2% in 2024, and BBVA Research forecast growth of around 2.8% for 2025.
March 26, 2025
In 2024, the Balearic Islands' GDP could have grown by 3.5%, and is expected to increase by 3.2% in 2025 and 1.6% in 2026. This strength is explained by foreign tourism, which remains strong but is approaching the limits of its capacity, and by domestic demand in which consumption is beginning to gain prominence.
March 25, 2025
In 2025, GDP is expected to grow by 5.5%, driven by consumption and investment, within a context of disinflationary consolidation and fiscal-monetary discipline. However, two key challenges remain: maintaining fiscal austerity during an election year and making significant progress in normalizing the foreign exchange market
