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Macro intelligence focused on rates, risk, credit conditions, labor, inflation, and bonds.
Data as of:2026-Q1
Last updated:
Source:Eurostat (INE)
Status:LIVE
Macro intelligence focused on rates, risk, credit conditions, labor, inflation, and bonds.
As of December 2025, growth momentum is softening with GDP at 0.60%. Inflation at 3.00% is above the ECB's 2% target. The ECB continues its easing cycle.
ECB (Eurosystem) has cut rates by 25 bps to 2.00%. With inflation at 3.0%, the pace of cuts may depend on price pressures.
As of December 2025, growth momentum is softening with GDP at 0.60%. Inflation at 3.00% is above the ECB's 2% target. The ECB continues its easing cycle.
Government Revenue vs. Expenditure (Billions EUR)
Variable follows prime; fixed follows bond yields + spreads. See Rate Transmission for details.
Scenario-based macro commentary, not financial advice.
Data refresh in progress for: Inflation, Unemployment.
ECB (Eurosystem) has set the policy rate at 2.000%. The most recent action was a 25 basis point cut. Inflation at 3.00% is near the typical 2% target.
Growth is subdued at 0.60%. The labor market shows signs of weakness with unemployment at 10.30%.
The yield curve is relatively flat (0.492pp spread), suggesting cautious growth expectations. Fixed mortgage rates are influenced by longer-term yields.
Sources: ECB (Deposit Facility Rate), Eurostat (INE)
Data is aggregated from primary national statistical agencies. 'Regime' is a proprietary calculated metric based on growth, inflation, and policy stance indicators.
Read full methodologyBorrower fit guidance only. See Mortgage Rate Outlook for rate scenarios.
| Year | GDP | Debt/GDP | C/A | Savings | Budget | CPI |
|---|---|---|---|---|---|---|
| 2024 | €1.5T | 108% | +2.5% | 7% | -3.7% | 3.0% |
| 2023 | €1.4T | 110% | +2.6% | 7% | -3.6% | 3.4% |
| 2022 | €1.3T | 113% | +0.6% | 7% | -4.8% | 8.4% |
| 2021 | €1.2T | 118% | +1.0% | 11% | -6.9% | 3.0% |
| 2020 | €1.1T | 120% | +0.6% | 14% | -10.3% | -0.3% |
Annual data typically lags 1–2 years. Rows marked Forecast are IMF projections. One year changes may not reflect the underlying trend — compare across 3–5 years.
Data sourced from World Bank. This is a Tier B (3-sector) breakdown. Spain has a services-heavy economy driven by tourism (world's 2nd most visited country). The construction sector played a significant role until the 2008 crisis. Agriculture includes wine, olive oil, and citrus production. More detailed industry breakdown available from INE Spain.