CaixaBank Financial Markets Daily Report 22 January 2025 With no major macro data to trade on, financial markets continued to digest President Trump's first executive orders. Overall, investors were relieved that tariffs were not imposed on the first day, and while Mexico and Canada appear to become the first targets, a more gradual approach towards China and Europe is now expected. Sectoral Observatory The automotive sector in Spain: the challenge of remaining competitive in the new global ecosystem Spain’s automotive sector is trying to find its place in the new global ecosystem, having overcome the adverse environment of recent years, marked by the international supply problems affecting essential inputs such as microchips and semiconductors, as well as increases… Sergio Díaz 18 December 2024 Sectoral Observatory The climate transition of Spain’s economic sectors In Spain, greenhouse gas emissions are highly concentrated in the manufacturing, energy, transport, and agriculture, forestry and fishing sectors. The decarbonisation of these energy-intensive sectors is taking place at very different rates: while the energy and… David Cesar Heymann 18 December 2024 Sectoral Observatory Outlook for the Spanish economy and its sectors in 2024-2025 In 2025, we expect that the primary, manufacturing and tourism sectors will continue to grow, albeit at a more moderate rate than in 2024, and that the ICT, professional services, pharmaceutical, construction and real estate industries will gain strength. Some branches of… David Cesar Heymann 18 December 2024 Currencies Be careful what you wish for (and be wary of your neighbour’s economy): Trump and the dollar David del Val 17 December 2024 European Central Bank (ECB) The ECB amid the reverberations of the Trump Trade CaixaBank Research 16 December 2024 Geopolitics Exposure of the Chinese economy to a US tariff hike Luís Pinheiro de Matos 13 December 2024 Geopolitics Exposure of the European economy to a US tariff hike David Martínez Turégano 17 December 2024 Geopolitics The importance of the trade in goods between Spain and the United States Sergio Díaz 17 December 2024 Geopolitics Impact of tariff hikes on Spanish exports to the US: which sectors could be the hardest hit? Judit Montoriol Garriga Anna Bahí Esteba 13 December 2024 Activity & growth Economic impact of the floods in the Valencia province Several authors 13 December 2024 Climate change Has the drought in Catalonia changed what households spend on water? Josep Mestres Domènech Zoel Martín Vilató 17 December 2024 Publications Monthly Report January 2025 | No. 496 17 January 2025 Sectorial Report Sectoral Observatory S2 2024 Sectorial Report Agrifood. Spain’s agrifood sector enjoys a revival 2024 Spain Spain’s Macroeconomic & Financial Outlook 14 January 2025 Portugal Portugal’s Macroeconomic & Financial Outlook 14 January 2025 Sectorial Report Real Estate. Strong demand and short supply shape the sector S2 2024 Sectorial Report Tourism. Sustainable growth: the challenge of Spain’s tourism sector S2 2024 Sectorial Report Manufacturing Industry 2023 Opinion Editorial 2025, what colour will you be? Oriol Aspachs Head of Spanish Economics Key points of the month Volatility in times of uncertainty José Ramón Díez Head of International Economics & Markets Recommended Financial markets Recent developments The Fed and the uncertainties about global growth condition the end of the year in the financial markets CaixaBank Research 17 January 2025 Government debt Debt limits CaixaBank Research 17 January 2025 European Union The new EU economic governance framework David Martínez Turégano Rita Sánchez Soliva 17 January 2025 Opinion 2025, what colour will you be? Oriol Aspachs 17 January 2025 Geopolitics Exposure of the European economy to a US tariff hike: a perspective through values chains David Martínez Turégano 17 January 2025 Spain's outlook The Spanish economy ends 2024 among the top of the class CaixaBank Research 16 January 2025 World outlook A year of challenges for an international economy further along in the cycle CaixaBank Research 16 January 2025 Real estate Foreigners’ appetite for homes in Spain since the pandemic Judit Montoriol Garriga 16 January 2025 Tourism International business tourism since the pandemic Pedro Álvarez Ondina 14 January 2025 Most read Foreigners’ appetite for homes in Spain since the pandemic Exposure of the European economy to a US tariff hike: a perspective through values chains The rise in savings: magnitude, distribution and the importance of demographics The rise of rural tourism in Spain: an opportunity for rural development The Spanish real estate market in 2024-2025: in expansive mode Newsletter Being informed now is more important than ever Get our latest updates Sign in Hot topics Geopolitics Real-Time Economics Podcasts Perspectivas económicas 2025 26/11/2024 Forecasts Financial markets Update date 10-01-2025 Macroeconomic Update date 10-01-2025 Team Sandra Jódar Rosell Director of Strategic Planning José Ramón Díez Head of International Economics & Markets Eduard Alcobé Garcia Data scientist Mireia Crusells Analyst José Antonio Sánchez Palomino Data scientist Zoel Martín Vilató Economist Judit Montoriol Garriga Lead economist Meet us Oriol Carreras Baquer Senior economist David Cesar Heymann Economist Anna Bahí Esteba Research Assistant Patricia Esteban Communication Isabella Castillo Hernández Research assistant Sergio Díaz Economist Isabela Lara White Economist Meet us Beatriz Villafranca Serrano Economist Alberto Graziano Senior Data Scientist Nuria Bustamante Lead economist Luís Pinheiro de Matos Economist Enric Fernández Chief Economist María Romero Meléndez Economista Adrià Morron Salmeron Lead economist Meet us David Martínez Turégano Economist Léopold Jouven Analyst Maitane Lizarraga Analyst Josep Mestres Domènech Senior economist Ariadna Vidal Martínez Lead economist Imelda Esteban Senior economist Ana María Porras Organization Meet us Ana Rincón García Organization David del Val Senior economist Pedro Álvarez Ondina Economist Roser Ferrer Senior economist Oriol Aspachs Head of Spanish Economics Javier García Arenas Senior economist Rita Sánchez Soliva Economist Meet us Mar Bisquert Perles Data scientist Jesús Viscarri Organization Javier Ibáñez de Aldecoa Fuster Economist Carolina Cruz Organization Meet us
Sectoral Observatory The automotive sector in Spain: the challenge of remaining competitive in the new global ecosystem Spain’s automotive sector is trying to find its place in the new global ecosystem, having overcome the adverse environment of recent years, marked by the international supply problems affecting essential inputs such as microchips and semiconductors, as well as increases… Sergio Díaz 18 December 2024
Sectoral Observatory The climate transition of Spain’s economic sectors In Spain, greenhouse gas emissions are highly concentrated in the manufacturing, energy, transport, and agriculture, forestry and fishing sectors. The decarbonisation of these energy-intensive sectors is taking place at very different rates: while the energy and… David Cesar Heymann 18 December 2024
Sectoral Observatory Outlook for the Spanish economy and its sectors in 2024-2025 In 2025, we expect that the primary, manufacturing and tourism sectors will continue to grow, albeit at a more moderate rate than in 2024, and that the ICT, professional services, pharmaceutical, construction and real estate industries will gain strength. Some branches of… David Cesar Heymann 18 December 2024
Currencies Be careful what you wish for (and be wary of your neighbour’s economy): Trump and the dollar David del Val 17 December 2024
European Central Bank (ECB) The ECB amid the reverberations of the Trump Trade CaixaBank Research 16 December 2024
Geopolitics Exposure of the Chinese economy to a US tariff hike Luís Pinheiro de Matos 13 December 2024
Geopolitics Exposure of the European economy to a US tariff hike David Martínez Turégano 17 December 2024
Geopolitics The importance of the trade in goods between Spain and the United States Sergio Díaz 17 December 2024
Geopolitics Impact of tariff hikes on Spanish exports to the US: which sectors could be the hardest hit? Judit Montoriol Garriga Anna Bahí Esteba 13 December 2024
Activity & growth Economic impact of the floods in the Valencia province Several authors 13 December 2024
Climate change Has the drought in Catalonia changed what households spend on water? Josep Mestres Domènech Zoel Martín Vilató 17 December 2024
Financial markets Recent developments The Fed and the uncertainties about global growth condition the end of the year in the financial markets CaixaBank Research 17 January 2025
European Union The new EU economic governance framework David Martínez Turégano Rita Sánchez Soliva 17 January 2025
Geopolitics Exposure of the European economy to a US tariff hike: a perspective through values chains David Martínez Turégano 17 January 2025
Spain's outlook The Spanish economy ends 2024 among the top of the class CaixaBank Research 16 January 2025
World outlook A year of challenges for an international economy further along in the cycle CaixaBank Research 16 January 2025
Real estate Foreigners’ appetite for homes in Spain since the pandemic Judit Montoriol Garriga 16 January 2025