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About us

Afi is the leading consulting firm specialized in economics, banking and public finance in Spain. Originally set up in 1987 by a group of renowned academics that provided Spanish financial services institutions and non-financial corporations with insightful economic and financial analysis tailored to their needs.

A brochure with Afi credentials and a brief description of the main services targeted for foreign investors can be downloaded here.

Afi forecasts

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%YoY 2018 2019 2020
(*) Contribution to GDP growth
Source: Afi, INE
Real GDP 2,4 2,0 -8,9
Final consumption 1,9 1,4 -9,6
     Household 1,8 1,1 -15,6
     Public Sector 1,9 2,3 5,1
Investment 5,3 1,8 -9,3
     Capital goods 5,7 2,7 -11,7
     Construction 6,6 0,9 -7,9
         Housing 7,8 2,9 -7,6
         Other construction 5,3 -1,6 -6,2
Domestic demand (*) 2,6 1,5 -9,1
Exports 2,2 2,6 -16,5
Imports 3,3 1,2 -18,5
External demand (*) -0,3 0,5 0,2
CPI (annual average) 1,7 0,7 -0,3
GDP deflator 0,9 1,6 -0,1
Nominal GDP 3,3 3,5 -9,0
Employment 2,5 2,3 -6,3
Unemployment rate 15,3 14,1 19,5
EDP Public balance (% GDP) -2,5 -2,8 -10,0
EDP Public debt (% GDP) 97,2 95,5 116,5
Current account (% GDP) 1,9 1,9 1,4
Afi economic climate monitor
Apr-14 May-14 Jun-14 Jul-14 Aug-14
YoY change, quarterly average (%)
(1) Indices
(*) Seasonally adjusted figures
Productive capacity utilization, % 77.0 74.1
Industrial production 1.4 2.2 2.1 2.2 1.3
Economic sentiment index (1) 102.5 101.4 101.8 104.0 103.4
Industrial confidence (1) -9.6 -9.3 -8.0 -7.4 -5.7
Services confidence (1) 11.6 8.4 6.4 12.5 7.0
Electricity consumption -0.3 0.1 0.6 0.8 0.8
Wholesales 2.5 2.9 1.7 2.8 1.8
Deflated retail sales -0.2 0.6 0.5 0.3 -0.2
Vehicle registration 10.2 12.1 14.3 15.7 14.9
Consumer confidence index (1) -8.3 -7.8 -6.7 -3.9 -7.7
Social Security registration 0.3 0.7 1.1 1.5 1.7
Deflated exports of goods 3.2 0.7 -1.9 -1.0 3.2
Foreign tourist arrival 7.1 8.6 6.7 7.2 5.0
Credit to private sector -7.6 -7.2 -6.9 -6.3 -5.9
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