Macro Insights

El RealTimeTracker, nuestro modelo de seguimiento y pronóstico en tiempo real, estima que un crecimiento trimestral del PIB del 0,7% en el 1T26, en línea con el promedio de los últimos trimestres. También anticipa, con información aún muy incompleta, una desaceleración en el 2T26 hasta el +0,4%, indicando que el mantenimiento del dinamismo de la […]

• The RealTimeTracker, our real-time monitoring and forecasting model, estimates quarterly GDP growth of 0.7% in Q4 2025, in line with the average of the last four quarters. With still very incomplete information, it also anticipates a slight acceleration in Q1 2026 (+0.8%), indicating that the Spanish economy’s momentum would continue in the short term. […]

The RealTimeTracker, our real-time monitoring and forecasting model, estimates GDP growth of 0.7% in Q3 2025, in line with the figures recorded in recent quarters. It also anticipates, with still very incomplete information, an increase of +0.5% in Q4, which would suggest a moderate slowdown in growth in the final quarter of the year. The 0.7% increase would have […]

• RealTimeTracker, our real-time tracking and forecasting model, estimates that quarterly GDP growth will be in the range of 0.5%-0.6% in Q2 2025, slowing slightly compared to recent quarters. We also anticipate, with information still very incomplete, a +0.2% increase in Q3, which would suggest a gradual slowdown in growth throughout the year. • Recent […]

The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth would stand at +0.7% in Q1 2025, easing very slightly compared with recent quarters. This +0.7% growth is driven by the revision of the national accounts and recent investment indicators. Labour indicators (Social Security registrations), demand indicators (retail consumption) and supply indicators […]

Macro analysis in partnership with EY Insights. The RealTimeTracker, our real-time tracking and forecasting model, estimates that GDP quarterly growth will be at +0.6% in Q4 2024, showing moderation compared to previous quarters. Service indicators drove this GDP growth in the quarter, while investment in capital goods and construction contributed less. Despite this moderation, we […]

Macro outlook, global focus and micro perspective for September 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth would be around +0.6% in Q3 2024, easing slightly from 0.8% in Q1 and Q2. This introduces an upside bias to the projections for the year as a whole, and […]

Macro outlook, global focus and micro perspective for June 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth would stand between +0.4% and +0.5% in Q2 2024, easing from 0.7% in Q1 2024. The balance of risks has not changed substantially and annual growth would remain at +2.3%, […]

Macro outlook, global focus and micro perspective for May 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth could reach +0.5% in Q2 2024. Annual growth would stand at 2.3%, two tenths lower than in 2023 but triple the figure projected for the Eurozone. All of this is […]

Macro outlook, global focus and micro perspective for March 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth will reach +0.8% in Q1 2024, beating expectations from the start of the year. We anticipate somewhat more moderate growth in Q2 2024. The tentative reading of the first half […]

Macro outlook, global focus and micro perspective for January 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that Spanish GDP will close Q4 2023 with growth of +0.5%. We therefore estimate that 2023 would have ended with growth of +2.4%. On a preliminary basis, for Q1 2024 we anticipate growth similar […]

Macro outlook, global focus and micro perspective for November 2023. Macro outlook The Spanish economy remains in positive territory in the final stretch of the year: the RealTimeTracker estimates positive GDP growth in Q4 2023 (+0.2%), showing a trend of gentle slowdown in recent quarters, but growth figures higher than those anticipated months ago. Annual […]