The document provides an economic overview for April 2021. It notes that industrial prices in March were pushed up by increases in energy and intermediate goods. The unemployment rate in the first quarter of 2021 increased 1.58 percentage points to 15.98% despite declines in both the active population and number of unemployed. Public debt in the Eurozone reached €11.1 trillion in the fourth quarter of 2020, with Spain's debt at 120% of GDP.

1. Economy…
at a glance
April 2021
By type of goods:
year-on-year
+6.3%
March 2021
Energy
12,2% year-on-year
Intermediate goods
7,6% year-on-year
monthly
+2.5%
-1 -8.8
6.3
-10
-5
0
5
10
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
General
Excluding energy
Labour Force Survey Q1 2021 (INE)
Construction
16,000
In Q1 2021, the loss of 137,500 jobs compared to the Q4 2020 has not implied an increase in the
unemployment rate due to the decline of both the active population (-203,400) and the unemployed (-65,800).
Compared to the Q1 2020…
Industrial Prices Index (IPRI) (INE)
Energy and intermediate goods pushed up industrial prices in March.
Employment Unemployment
3.6M
Total unemployed
341,000
more unemployed in
the last 12 months
The unemployment rate increased by 1.58 pp in
one to 15.98% of the labour force
19.2M
127,100
344.500
Total occupied
474,500 last 12 months
623,000
149,400
Private sector
Public sector
By sectors
Agriculture
13,200
Industry
Services

2. Economy… at a glance, a publication of the “Círculo de Empresarios” produced by its Department of Economy, contains information and opinion from reliable sources. However, the “Círculo de
Empresarios” does not guarantee its accuracy and does not take responsibility for any errors or omissions. This document is merely informative. As a result, the “Círculo de Empresarios” is not responsible
for any uses that may be made of the publication. The opinions and estimates of the Department can be modified without prior warning.
Eurozone public debt (Eurostat)
Eurozone (% GDP)
EUROZONE
98%GDP
Q4 2020
At the end of Q4 2020, public debt in the Eurozone reached €11.1 trillion (€1.34 trillion of which corresponds
to Spain).
SPAIN
120%GDP
Spain (% GDP)
Debt securities: 80.5%
Loans: 14.3%
Currency and deposits: 3.2%
Spanish debt in January-February 2021 increased to €1.4 trillion.
Debt securities: 104.1%
Loans: 15.5%
Currency and deposits: 0.4%
11th in EU
17º
Energy Transition Index 2021 (World Economic Forum)
In the past decade, global
yearly investment in Energy
Transition has doubled to
$500 billion in 2020.
Spain is among the Top 10
countries that have invested
the most between 2016 and
2020 (= $43 billion, mostly in
renewable energies).
TOP 10 – 2021 (score)
Monetary policy in emerging Asia (Bloomberg)
In 2021, in spite of the inflationary pressures in some countries in the zone, the Central Banks are forecast
to maintain interest rates at low levels in order to reactivate their economies.
Real interest rate (%) Inflation March 2021 (%)
Greece
Italy
Portugal
Spain
Cyprus
France
Belgium
Eurozone
Austria
Slovenia
Germany
Finland
Slovakia
Ireland
Netherlands
Malta
Lithuania
Latvia
Luxembourg
Estonia
Q4 2020 Q4 2019
-2.5 -2.05 -1.52 -1
0.05 0.58
2.13
3.95
Philippines Pakistan India S. Korea Malaysia Thailand Indonesia China
Philippines 4.5
Pakistan 9.05
India 5.52
S. Korea 1.5
Malaysia 1.7
Thailand -0.08
Indonesia 1.37
China 0.4