Spanish economy shrank 17.8% in the second quarter due to coronavirus crisis

The decline is the largest since the 1930s, but not quite as bad as the National Statistics Institute had anticipated


Bank of Spain downgrades economic forecast and warns of slower recovery

According to the central lender, GDP will fall between 10.5% and 12.6% this year as a result of the coronavirus crisis


Spain experienced Europe’s worst job destruction in first half of the year

A strict lockdown, reliance on tourism and a high rate of temporary contracts help explain why employment decreased by around 8%


Spain’s economy posts historic 18.5% quarterly fall due to coronavirus lockdown

New data shows that output has fallen to levels not seen since the late 19th and early 20th centuries


Spain could get €140 billion from EU’s Covid-19 recovery plan

If approved, the Spanish economy would be the second top beneficiary of the historic program after Italy


Bank of Spain calls for cuts, predicts bigger slump

Governor Pablo Hernández de Cos asks lawmakers for a reform program spanning several political terms in order to avoid a new debt crisis in the wake of the coronavirus recovery effort


Spanish economy falls 5.2% in first quarter, the biggest drop in nearly a century

The Bank of Spain estimates that GDP could retreat by between 6.6% and 13.6% this year due to the coronavirus crisis, which has grounded most business activity to a halt


Spain prepares fresh economic relief for the self-employed

With the economy in slow motion, small entrepreneurs may soon benefit from extended deadlines on social security payment obligations


Spain reports its first coronavirus death

Infections push past the 200 mark while Israel announces that travelers from Spain and other countries will be quarantined


Population slowdown is holding back Spain’s economy

A low birth rate and new migration trends pose questions about the country’s ability to generate growth


Brussels asks Spain not to spend €22 billion it could save from low interest rates

The European Central Bank’s stimulus policy will create significant savings from lower borrowing costs, but the EU wants Madrid to use that money to reduce its debt


Spanish economy failing to meet growth forecasts

Spaniards are producing and earning less than previously reported, according to a periodic review from the country’s National Statistics Institute


Spain will propose economy minister as new IMF chief if backed by EU

The government is waiting to see what other candidates are put forward before suggesting Nadia Calviño as the successor to Christine Lagarde


In Spain, wages for unskilled youths now the same as in the late 1990s

The Bank of Spain warns that the young are bearing the brunt of the effects of the 2008 economic crisis


Bank of Spain improves economic growth outlook for 2019

Strong internal demand pushes forecast up to 2.4%, although supervisor warns about the effects of a wage hike and external factors


Spanish economy set to keep growing despite global uncertainty

But Bank of Spain warns about spending measures and says the next government to come out of the general election should prepare for a downturn


Brexit: Spain attracting more British investment, but few companies

Inflows from the UK have grown by 80%, but businesses are choosing to relocate their headquarters elsewhere, in cities such as Frankfurt, Paris, Dublin and Amsterdam


Spanish economy grew 2.5% in 2018, bucking euro zone trend

The outlook for 2019 is lower because of domestic uncertainties such as the budget impasse


IMF tells Spain to keep an eye on rising housing prices

The organization is not seeing signs of a new bubble, but wants tools in place to keep credit in check if necessary


IMF report calls on Spain to take action against high debt and deficit

Annual study praises the recovery but says much of it is due to cyclical factors, not structural reforms


Spanish PM opens door to 2019 general election if he can’t pass budget

Pedro Sánchez may abandon his plan to see out the legislature in a minority government, but not everyone in his Socialist Party is in favor of early polls


Mortgage interest rates in Spain no longer among Europe’s cheapest

Analysts now waiting to see if lenders will raise them further to offset new cost of a controversial tax


Is Spain prepared for a new crisis?

A decade after the Spanish property bust, some reforms have been undertaken, but the country is still burdened by excessive debt, labor market duality, lack of competitiveness and high student dropout rates


Spaniards were not wealthier than Italians in 2017: Eurostat contradicts IMF

European Union’s statistics bureau shows improving figures for the Spanish economy but they are still below the EU average


Spanish exports already feeling the brunt of Brexit

New Bank of Spain report says sales of goods to UK fell last year ahead of Britain’s exit from EU


Spain dogged by inequality despite employment boost

Country is taking longer to close gap between the rich and poor than in other post-recession periods


Spaniards now wealthier than Italians (but only according to the IMF)

For the first time, stats show Spain has a higher GDP (PPP) per capita, but Eurostat data says otherwise