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Spain
Featured Content
RGE Analysis
Spain Will Be Forced to Restructure Its Debt; New Government Is No Game Changer
Nov 23, 2011
RGE Analysis
Comparing Spain With Ireland and Other PIIGS: Better in Some Ways, More at Risk in Others
Nov 25, 2010
Macroeconomy
Spain: Domestic Demand
Spain: Unemployment Rate Reaches 21.5% in Q3 2011, Rises Further in December
Eurozone : Spain : Europe : Macroeconomy : Labor Markets and Productivity :
Spain: Price Dynamics
Spanish Inflation to Slow to 2.4% y/y in December
Eurozone : Spain : Europe : Macroeconomy : Monetary Policy and Inflation :
Markets
Finance & Banking
Geostrategy
Key Indicators
GDP Expenditure Approach
GDP Total, Real Previous Year Prices, Annual Change, Percent - Austria
GDP Total, Real Previous Year Prices, Annual Change, Percent - Austria
0, 2.4, 2.4, 2.4, 4.2
4.2
BOP
Current Account, Net, Thousand EUR - Spain
Current Account, Net, Thousand EUR - Spain
-5504435, -4493168, -3581719, -1896979, -2888626
-2,888,626
Housing
General Price Housing Index, 2005=100 - Spain
General Price Housing Index, 2005=100 - Spain
111.3, 110.3, 109.3, 108.9, 106.2
106.2
Unemployment rate
Total - Spain
Total - Spain
20.05, 20.09, 19.79, 20.33, 21.29
21.29
ESP Expected economic situation sa
Stock or Quantum, SA, % balance - Spain
Stock or Quantum, SA, % balance - Spain
-20, -23, -18, -15, -15
-15
Gross domestic product at market prices
Index, 2000=100, Real, SA, WDA - Spain
Index, 2000=100, Real, SA, WDA - Spain
-1.29, -0.08, 0.25, 0.65, 0.82
0.82
Growth rate of Harm CPI (year-over-year)
All-items HICP - Spain
All-items HICP - Spain
2.9, 3, 3.4, 3.3, 3.5
3.5
Spain Benchmark Bond
10 Year - Yield
10 Year - Yield
5.24, 5.29, 5.35, 5.4, 5.48
5.48
data by Factset
Spain Outlook: The Worst Is Yet to Come
Following a moderate GDP expansion in 2011, RGE expects the Spanish economy to remain stuck in recession throughout 2012 and 2013, given the ongoing deleveraging of the public and private sector and weakening demand for Spanish exports. The outlook for private consumption remains strongly negative given the dire labor market situation, painful fiscal austerity measures and tight credit conditions. The center-right government’s parliamentary majority will make it easier to push through aggressive budget cuts and structural reforms. However, Spain’s unsustainable debt dynamics and the lack of a comprehensive eurozone (EZ) crisis resolution strategy will force the country to initiate a sovereign debt restructuring as early as end-2013, given the irreversible collapse in market confidence.
Read the latest Spain Outlook
Market Strategy
Cross Asset Monthly
The Big Picture: Necessary but Insufficient Policies for Interesting Times
By Oct 29, 2010
Market Strategy
Q3 2010 Scenario Analysis: Macroeconomic Factors & Asset Class Investment Implications
By Aug 2, 2010
Market Strategy
Cross Asset Monthly: A Summer of Discontent: Navigating the Tug of War Between Greed and Fear
By Jul 27, 2010
Market Strategy
Fixed Income: Relief Rallies European Bond Markets, But Now for the Hard Part
By May 10, 2010
Economic Research
Economic Research
What's on Nouriel's Mind: The Deteriorating Economic Outlook for the Eurozone
By Jan 17, 2012
Europe Weekly
ECB Meeting Preview; Spain’s Crucial Fiscal Consolidation; Hungary Risks; Turkish Monetary Policy; EZ Calendar
By Jan 6, 2012
Europe Weekly
EZ Pitfalls in 2012; Italian GDP; New Spanish Government; Swedish Monetary Policy; Hungarian, Polish Banks; EZ Calendar
By Dec 23, 2011
Economic Research
Spain Will Be Forced to Restructure Its Debt; New Government Is No Game Changer
By Nov 23, 2011
Europe Weekly
EZ GDP; Spanish Politics; Eastern Europe Growth Fears; Russian Slowdown; EZ Calendar
By Nov 18, 2011
Economic Research
Conference Call Highlights: Can the EZ Be Brought Back From the Brink?
By Nov 17, 2011
Economic Research
Four Options to Address the Eurozone's Stock and Flow Imbalances: The Rising Risk of a Disorderly Break-Up
By Nov 1, 2011
Economic Research
Waiting for the Wednesday Summit: Progress Report on EFSF Leverage Options, Bank Recaps and Greece
By Oct 24, 2011
Economic Research
Low Inflation in EZ Core Threatens Periphery’s Efforts to Regain Competitiveness
By Oct 21, 2011
Economic Research
Conference Call Replay: Eurozone in Crisis—More Than a Plan to Plan Needed
By Oct 21, 2011
Economic Research
Last Shot on Goal: Will Eurozone Leaders Succeed in Ending the Crisis?
By Oct 21, 2011
Economic Research
The Age of Crisis: Down and Out Depression in D.C.—RGE on the IMF/WB Annual Meetings
By Sep 26, 2011
Europe Weekly
Inflation Concerns Easing in EZ, Switzerland, UK, Hungary and Czech Republic
By Aug 12, 2011
Europe Weekly
Spanish Politics; EFSF Ratification; German Soft Landing; Czech Monetary Policy; Turkish Depreciation
By Jul 29, 2011
Global Economic Outlook
Spain Outlook Update: Fiscal Housekeeping Shifts to Regional Governments
By Jun 23, 2011
Economic Research
EZ Policy Makers Will Avoid Tough Decisions and Continue to Muddle Through for Now
By Jun 3, 2011
Economic Research
Much Ado About Relatively Little: Contagion Risks From an Orderly Greek Debt Restructuring Are Modest, Contained and Manageable
By May 24, 2011
Economic Research
DSK's Arrest: Implications for the IMF Succession and PIIGS' Bailouts
By May 16, 2011
Europe Weekly
Eurozone Core Comes Up Trumps in Q1; UK, EZ Periphery Moving at Half Speed
By May 13, 2011
Economic Research
CDS and Debt Restructuring: Does the Existence of Credit Derivatives Make Restructuring Harder?
By Apr 21, 2011
Economic Research
Q2 2011 Geostrategy Note: The Scent of Jasmine, Japan's Mega-Crisis and Other Global Drama
By Mar 24, 2011
Economic Research
2011 Geostrategy Note: The Roiling Pacific, Quagmiristan and EZ Targets
By Dec 29, 2010
Economic Research
Comparing Spain With Ireland and Other PIIGS: Better in Some Ways, More at Risk in Others
By Nov 25, 2010
Economic Research
An Orderly Market-Based Approach to the Restructuring of Eurozone Sovereign Debts Obviates the Need for Statutory Approaches
By Nov 15, 2010
Economic Research
Q4 2010 Geostrategic Risk Note: Asia on the Boil, U.S.-Europe Reap Anti-Incumbent Backlash
By Oct 7, 2010
Economic Research
Q3 2010 Geostrategy Note: Nascent Nukes, Portly PIIGS and the Taliban
By Aug 4, 2010
Economic Research
Adjustment Dynamics in Spain: Will Belt-Tightening Cinch Off Growth?
By Jun 10, 2010
Economic Research
Global Recession Watch: A Dozen Significant Economies are at Risk of a Hard Landing
By Jun 25, 2008
EconoMonitors
Dan Alpert's Two Cents
On Sticky Wages and What Happens when Inflation is No Longer an Alternative
Dec 13, 2011
Dan Alpert's Two Cents
On Printing Euros and the Real German Fear (hint, it's not 1923)
Nov 17, 2011
Europe Channel
Chart of the Day: Greatest Credit Deterioration Focus - Belgium, Spanish Banking
Oct 14, 2011
Don't Shoot the Messenger
Nine Reasons Why Spain's Economy Is More Different Than You Think!
Jun 25, 2011
Europe Channel
The Irish Stress Tests and Euro Zone Options: Monetization, Default, or Break-Up
Mar 31, 2011
The Wilder View
The ECB Would Quash a Discrete Shift in German Nominal GDP Rather Than Accommodate It
Feb 14, 2011
Geostrategy Channel
Cross-Border Deleveraging and the Shifts in Europe's Bargaining Game
Nov 29, 2010
Nouriel Roubini's Global EconoMonitor
An Orderly Market-Based Approach to the Restructuring of Eurozone Sovereign Debts Obviates the Need for Statutory Approaches
Nov 28, 2010
Nouriel Roubini's Global EconoMonitor
Roubini Hosts CNBC Squawk Box - Europe: Contagion 2.0
Nov 19, 2010
Don't Shoot the Messenger
On the Shoulders of Giants - How Spain Is Destined to Follow in Germany's Footsteps
Aug 31, 2010
Don't Shoot the Messenger
How Many Times Can One Driver Fall Asleep at the Same Wheel (And Live)?
Aug 23, 2010
Don't Shoot the Messenger
Controlling the Uncontrollable: Spain's National Addiction to the Use of "Dinero B"
Aug 19, 2010
Geostrategy Channel
Spain Is the Perfect Example of a Country that Never Should Have Joined the Eurozone
May 17, 2010
Geostrategy Channel
Making Fiscal Consolidation Work In Greece, Portugal, and Spain: Some Lessons from Argentina
May 11, 2010
Geostrategy Channel
The Escalating Greek Debt Crisis: What Has Been Happening and Where Is It Going?
May 6, 2010
Nouriel Roubini's Global EconoMonitor
Roubini Concerns About the Future of the EMU - World Economic Forum, Davos, 2006
May 5, 2010
Nouriel Roubini's Global EconoMonitor
Roubini CNBC and Bloomberg Reports on Greece Crisis, European Union
Apr 29, 2010
Don't Shoot the Messenger
Waiting for Something to Turn up: Europe's Looming Pensions-based Sovereign Debt Crisis
Mar 18, 2010
Nouriel Roubini's Global EconoMonitor
Roubini Bloomberg Interview on Sovereign Debt and U.S. Outlook
Feb 6, 2010
Europe Channel
Quantifying Eurozone Imbalances and the Internal Devaluation of Greece and Spain
Dec 28, 2009
Don't Shoot the Messenger
Why Standard and Poor's are Right to Worry about Spanish Finances
Dec 22, 2009
Don't Shoot the Messenger
That Which the ECB Hath Separated, Let No Man Join Together Again!
Dec 11, 2009
Don't Shoot the Messenger
The French Rebound Continues In October While Germany Moves Sideways
Oct 28, 2009
Global Macro Channel
Output, Productivity, Employment, Household Debt, Consumption, and Wealth
Sep 23, 2009
Don't Shoot the Messenger
How Will The ECB Ever Manage To Stop Funding Spanish Government Debt?
Sep 16, 2009
Don't Shoot the Messenger
Twenty Percent of Spanish Mortgages Now Considered to be High Risk
Aug 18, 2009
Daily Digest
News
Forecasts 2011-2012 by components (Last Update: FUNCAS)
Ministerio de Economia y Hacienda Dec 16, 2011
Analysis
Spain vs. Italy: Will Spain pull out from the crisis more rapidly than Italy?
Natixis Bank Jan 17, 2012
Analysis
Euro area: German industry is weak, but other data are good
J.P.Morgan Chase Bank Jan 09, 2012
Opinions
Austerity in Spain-The new government is turning the fiscal screws
The Economist Jan 07, 2012
Opinions
Spain’s new government-Mariano Rajoy takes office at a dismal time for Spain
The Economist Dec 31, 2011
News
Spain: Consumer Price Index (CPI)- November 2011
National Statistics Institute (INE) Dec 14, 2011
Analysis
The EBA publishes Recommendation and final results of bank recapitalisation plan as part of co-ordinated measures to restore confidence in the banking sector
European Banking Authority Dec 08, 2011
Analysis
Forecasts 2011-2012 by components (Last Update: OECD)
Ministerio de Economia y Hacienda Nov 28, 2011
Analysis
Spain Will Be Forced to Restructure Its Debt; New Government Is No Game Changer
Roubini Global Economics Nov 23, 2011
News
Statement by the Hon. Elena Salgado,Governor of the Bank and the Fund for Spain
IMF Sep 23, 2011
News
Economically Active Population Survey (EAPS)-Third quarter of 2011
National Statistics Institute Oct 28, 2011
Analysis
EZ GDP; Spanish Politics; Eastern Europe Growth Fears; Russian Slowdown
Roubini Global Economics Nov 18, 2011
Analysis
Opportunities for Solar from Small Scale to Utility Scale
Renewable Energy World Nov 18, 2011
Analysis
Solar PV Could Become Competitive as Early as 2013 in Some Markets
European Photovoltaic Energy Association (EPIA) Nov 15, 2011
Research
Spain: Unwinding imbalances in a weakening external environment
European Commission Nov 10, 2011
News
Spanish Economy Stalled in Third Quarter as Borrowing Costs Rose to Record
Bloomberg Nov 11, 2011
News
Gross Domestic Product registers a 0.8% increase in the third quarter of 2011
National Statistics Institute Nov 11, 2011
News
Spain Economy Stalls in Third Quarter, Adding to Government’s Difficulties
Bloomberg Oct 31, 2011
Analysis
Europe in the wake of the worsening crisis-Results of the GfK consumer climate of Europe for the third quarter of 2011
GfK Oct 18, 2011
News
Moody's downgrades Spain's government bond ratings to A1, negative outlook
Moody's Investors Service Oct 18, 2011
RESEARCH AND STRATEGY FIXTURES
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