Use of cookies

This website only uses essential technical first-party cookies in order to make your browsing experience safer.
It also uses non-essential third-party cookies in order to facilitate statistical analysis of its usage.
If you would like more information about these cookies or would like to change your browser configuration, please refer to our Cookies Policy.
Click on "Reject optional cookies" or "Accept all cookies" to confirm you have read and agreed with the information provided here.

User
Password
login Sign in    |   Register

Register

Fill in the following information and we will contact you as soon as possible.

Name
Surname
Telephone
E-mail
You must enter additional information
Additional information
I have read and accept the personal data processing policy

On Spain


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.

Latest research & commentary

Other published reports >>

Flash Notes

Other published reports >>

Afi forecasts

More    

2024 2025 2026 2027
(*) Contribution to GDP growth
Source: Afi, INE
Real GDP 3,2 2,8 2,3 2,1
Final consumption 3,2 3,4 2,4 1,9
     Household 2,8 3,8 2,8 2,0
     Public Sector 4,1 2,3 1,4 1,4
Investment 3,0 5,3 2,2 2,2
     Capital goods 2,8 8,5 2,0 2,0
     Construction 3,5 4,4 2,6 2,1
         Housing 1,7 5,2 3,4 2,9
         Other construction 5,8 3,3 1,5 1,2
Domestic demand (*) 2,8 3,6 2,2 1,9
Exports 3,1 2,4 3,5 3,6
Imports 2,4 5,1 3,7 3,4
External demand (*) 0,3 -0,8 0,1 0,2
CPI (annual average) 2,8 2,6 1,7 1,9
GDP deflator 3,1 2,3 2,2 2,1
Nominal GDP 6,2 5,1 4,5 4,2
Employment 2,2 2,1 1,6 1,3
Unemployment rate 11,3 10,4 10,2 10,0
EDP Public balance (% GDP) -2,9 -2,7 -2,6 -2,5
EDP Public debt (% GDP) 102,5 100,9 99,9 99,3
Current account (% GDP) 3,1 2,6 2,8 2,7
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
2025 © Afi. All rights reserved. Legal disclaimer. Privacy policy. Cookies Policy. All images used are owned by Getty Images.