What markets tell us about macroeconomics Financial markets Isabela Lara White Jesús Manuel Carrera Moreno Mon, 05/18/2026 - 11:00
What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? Spanish economy David Cesar Heymann Mon, 05/18/2026 - 11:57
Shadows (and some light) in Europe’s industrial decline International economy David Martínez Turégano Mon, 05/18/2026 - 11:13
Financial Markets Daily Report 20 May 2026 With no known progress on the peace negotiations in the Middle East, yesterday's session was driven by adjacent factors. Energy prices closed mixed as US Vice President JD Vance said neither side of the conflict wanted to take military action. Brent prices fell slightly to settle at USD 111/barrel while TTF prices rallied to close up 3%, at nearly EUR 52/MWh. Artificial intelligence (AI) AI adoption in Spanish firms is advancing rapidly but remains limited and uneven The adoption of artificial intelligence (AI) in Spanish firms has accelerated in recent years, but the process has been uneven and remains incomplete. This article analyses the extent of AI penetration considering four key dimensions: company size, sectoral differences,… Javier García Arenas Pedro Álvarez Ondina 18 May 2026 Tourism What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? International tourism spending accelerated slightly in March 2026, driven by the redirection towards Spain of tourist flows from the main European source countries. This upturn offset the decline in tourism from East Asia, which, although intense, represents only a small… David Cesar Heymann 18 May 2026 Spain's outlook The Spanish economy remains resilient in an uncertain environment The latest indicators depict an economy that remains resilient amid the entrenchment of the conflict in the Persian Gulf. Among the various channels through which this conflict can affect the economy, the most visible impact so far is in inflation, through the rise in… CaixaBank Research 18 May 2026 European Union Shadows (and some light) in Europe’s industrial decline The Industrial Accelerator Act, presented by the European Commission at the beginning of March, outlines its response to the EU’s weakening industrial base. It is structured around a set of quantitative objectives: a general one, to raise the sector’s share of the economy… David Martínez Turégano 18 May 2026 Financial markets What markets tell us about macroeconomics Isabela Lara White Jesús Manuel Carrera Moreno 18 May 2026 Artificial intelligence (AI) The AI buzz in financial markets CaixaBank Research 14 May 2026 Artificial intelligence (AI) Productivity and employment in the face of generative AI: what do we know? Oriol Carreras Baquer 14 May 2026 Portugal outlook Portugal: the effects of the conflict begin to show through CaixaBank Research 14 May 2026 Financial markets outlook Financial markets: a disconnect between risk and energy? CaixaBank Research 14 May 2026 Opinion Economy and markets between two tides: geopolitics and artificial intelligence José Ramón Díez 14 May 2026 Publications Monthly ReportNo. 511| The present and futures of the new AIconomy May 2026 SpainSpain’s Macroeconomic & Financial Outlook12 May 2026 Sectorial ReportReal Estate. Increasing supply, the great challenge of the Spanish real estate market S1 2026 Sectorial ReportTourism. Spanish tourism sector: from post-pandemic rebound to sustainable growth S1 2026 PortugalPortugal’s Macroeconomic & Financial Outlook13 February 2026 Sectorial ReportAgrifood. The Spanish agrifood sector gains momentum 2025 Sectorial ReportSectoral Observatory S1 2025 Sectorial ReportManufacturing Industry 2023 Opinion Editorial Economy and markets between two tides: geopolitics and artificial intelligence José Ramón Díez Head of International Economics & Markets Key points of the month Hormuz: time is against us Oriol Aspachs Head of Spanish Economics Recommended Artificial intelligence (AI) AI adoption in Spanish firms is advancing rapidly but remains limited and uneven Javier García Arenas Pedro Álvarez Ondina 18 May 2026 Tourism What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? David Cesar Heymann 18 May 2026 Spain's outlook The Spanish economy remains resilient in an uncertain environment CaixaBank Research 18 May 2026 European Union Shadows (and some light) in Europe’s industrial decline David Martínez Turégano 18 May 2026 Financial markets What markets tell us about macroeconomics Isabela Lara White Jesús Manuel Carrera Moreno 18 May 2026 Artificial intelligence (AI) The AI buzz in financial markets CaixaBank Research 14 May 2026 Artificial intelligence (AI) Productivity and employment in the face of generative AI: what do we know? Oriol Carreras Baquer 14 May 2026 Portugal outlook Portugal: the effects of the conflict begin to show through CaixaBank Research 14 May 2026 Financial markets outlook Financial markets: a disconnect between risk and energy? CaixaBank Research 14 May 2026Most readThe Belt and Road Initiative: a double-edged sword? (part III)Shadows (and some light) in Europe’s industrial declineWhat do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran?AI adoption in Spanish firms is advancing rapidly but remains limited and unevenWhat markets tell us about macroeconomics NewsletterBeing informed now ismore important than everGet our latest updates Sign in Hot topics Monetary and fiscal policy Digitalisation & Technology Podcasts De Ormuz a España: cómo la crisis en el Golfo puede acabar afectando a nuestra economía 23/04/2026 Forecasts Financial markets Interest rate (%)Update date 11-05-20262024202520262027 Fed Funds 4.25 3.50 3.00 3.00 ECB Refi 3.24 2.15 2.15 2.15 Macroeconomic GDP (%)Update date 11-05-20262024202520262027 Euro area GDP 0.8 1.5 1.3 1.5 Spain GDP 3.5 2.8 2.4 2.0 US GDP 2.8 2.1 2.6 2.0 Team Isabela Lara WhiteEconomist Javier Ibáñez de Aldecoa FusterEconomist Oriol Carreras BaquerSenior economist Sandra Jódar RosellDirector of Strategic Planning David del ValSenior economist Ana Rincón GarcíaOrganization Pedro Álvarez OndinaEconomist Meet us Nuria BustamanteLead economist Beatriz Villafranca SerranoEconomist Javier García ArenasSenior economist Judit Montoriol GarrigaLead economist Carolina CruzOrganization Enric FernándezChief Economist Léopold JouvenEconomist Meet us José Antonio Sánchez PalominoData scientist Sergio DíazEconomist Adrià Morron SalmeronLead economist Catalina BecuResearch assistant Ana María PorrasOrganization Marina Tombas SuñéData Scientist Zoel Martín VilatóEconomist Meet us María Romero MeléndezEconomista David Cesar HeymannEconomist Jesús Manuel Carrera MorenoResearch assistant David Martínez TuréganoSenior economist Eduard Alcobé GarciaData scientist Mar Bisquert PerlesData scientist Ariadna Vidal MartínezLead economist Meet us Oriol AspachsHead of Spanish Economics Mireia CrusellsAnalyst Josep Mestres DomènechLead economist Maitane LizarragaAnalyst José Ramón DíezHead of International Economics & Markets Roser FerrerSenior economist Imelda EstebanSenior economist Meet us Rita Sánchez SolivaEconomist Alberto GrazianoSenior Data Scientist Patricia EstebanCommunication Jesús ViscarriOrganization Luís Pinheiro de MatosEconomist Meet usPrint
Artificial intelligence (AI) AI adoption in Spanish firms is advancing rapidly but remains limited and uneven The adoption of artificial intelligence (AI) in Spanish firms has accelerated in recent years, but the process has been uneven and remains incomplete. This article analyses the extent of AI penetration considering four key dimensions: company size, sectoral differences,… Javier García Arenas Pedro Álvarez Ondina 18 May 2026
Tourism What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? International tourism spending accelerated slightly in March 2026, driven by the redirection towards Spain of tourist flows from the main European source countries. This upturn offset the decline in tourism from East Asia, which, although intense, represents only a small… David Cesar Heymann 18 May 2026
Spain's outlook The Spanish economy remains resilient in an uncertain environment The latest indicators depict an economy that remains resilient amid the entrenchment of the conflict in the Persian Gulf. Among the various channels through which this conflict can affect the economy, the most visible impact so far is in inflation, through the rise in… CaixaBank Research 18 May 2026
European Union Shadows (and some light) in Europe’s industrial decline The Industrial Accelerator Act, presented by the European Commission at the beginning of March, outlines its response to the EU’s weakening industrial base. It is structured around a set of quantitative objectives: a general one, to raise the sector’s share of the economy… David Martínez Turégano 18 May 2026
Financial markets What markets tell us about macroeconomics Isabela Lara White Jesús Manuel Carrera Moreno 18 May 2026
Artificial intelligence (AI) Productivity and employment in the face of generative AI: what do we know? Oriol Carreras Baquer 14 May 2026
Portugal outlook Portugal: the effects of the conflict begin to show through CaixaBank Research 14 May 2026
Financial markets outlook Financial markets: a disconnect between risk and energy? CaixaBank Research 14 May 2026
Opinion Economy and markets between two tides: geopolitics and artificial intelligence José Ramón Díez 14 May 2026
Sectorial ReportReal Estate. Increasing supply, the great challenge of the Spanish real estate market S1 2026
Sectorial ReportTourism. Spanish tourism sector: from post-pandemic rebound to sustainable growth S1 2026
Economy and markets between two tides: geopolitics and artificial intelligence José Ramón Díez Head of International Economics & Markets
Artificial intelligence (AI) AI adoption in Spanish firms is advancing rapidly but remains limited and uneven Javier García Arenas Pedro Álvarez Ondina 18 May 2026
Tourism What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? David Cesar Heymann 18 May 2026
Spain's outlook The Spanish economy remains resilient in an uncertain environment CaixaBank Research 18 May 2026
European Union Shadows (and some light) in Europe’s industrial decline David Martínez Turégano 18 May 2026
Financial markets What markets tell us about macroeconomics Isabela Lara White Jesús Manuel Carrera Moreno 18 May 2026
Artificial intelligence (AI) Productivity and employment in the face of generative AI: what do we know? Oriol Carreras Baquer 14 May 2026
Portugal outlook Portugal: the effects of the conflict begin to show through CaixaBank Research 14 May 2026
Financial markets outlook Financial markets: a disconnect between risk and energy? CaixaBank Research 14 May 2026