Social Security Affiliates Spain Manufacturing and services PMIs Spain International tourist arrivals Spain German goods trade balance Public accounts Italy Forecasts Latin America

1. Economy…
at a glance
July 2023
0
15
30
45
60
75
90
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.
2023
2019
2020
4.7
4.3
2.6
2
3
4
5
6
Jun-21
Aug-21
Oct-21
Dec-21
Feb-22
Apr-22
Jun-22
Aug-22
Oct-22
Dec-22
Feb-23
Apr-23
Jun-23
International tourist arrivals Spain (INE)
tourists
X 1.3 times
Jan.-May. 23
29,178,962
r/ Jan.-May. 22
-0.4%
r/ Jan.-May. 19
Millions of tourists accumulated
Social Security Affiliates Spain (M.Inclusion,SocialSecurityandMigration)
Jun. 23
20,869,940
y-o-y
+2.6%
Average affiliates *
* Original series
% y-o-y change
monthly
+0.3%
In seasonally adjusted terms, the number of
affiliates fell by 20,119 r/ May 23 (-0.1%)
Slowdown in job
creation
By regions
% y-o-y change
Top 6 regions receiving tourists
% y-o-y change and % of total
National average
48 points
r/ Jun.22
-4.6points
Manufacturing
Manufacturing and services PMIs Spain (Investing/Markit)
Value < 50: activity contraction / >50: expansion
Jun. 23
Manufacturing PMI
53.4 points
r/ Jun.22
-0.6points
Services
• Reduction of
production
• Decrease in new
orders
• Fall in industrial
employment
59.4
53.4
51.3
48
40
45
50
55
60
65
Feb-21
Apr-21
Jun-21
Aug-21
Oct-21
Dec-21
Feb-22
Apr-22
Jun-22
Aug-22
Oct-22
Dec-22
Feb-23
Apr-23
Jun-23
Manufacturing Services
Deterioration →
of expectations

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.
-4
-2
0
2
4
6
8
LA
-
5
Argentina
Brazil
Chile
Colombia
Mexico
Peru
Eastern
Europe
Emerging
Asia
Eurozone
US
2022 2023* 2024*
-10.6
-14.8
-11.3
-12.1
-16
-14
-12
-10
-8
-6
-4
-2
0
2
Q4
19
Q1
20
Q2
20
Q3
20
Q4
20
Q1
21
Q2
21
Q3
21
Q4
21
Q1
22
Q2
22
Q3
22
Q4
22
Q1
23
Public accounts Italy (Istat)
Forecasts Latin America* (BankofSpain)
German goods trade balance (Eurostat)
14.4
0
5
10
15
20
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Mar-23
May-23
y-o-y
-0.7%
y-o-y
Exports
May. 23 bn€
Imports
Trade surplus
bn€
monthly
-0.2%
monthly
-8.6%
+1.7%
Trade with the rest of the EU
Exports
Imports
70.3 bn€
61.6 bn€
r/ Q1 22
of GDP
+14.7%
-12.1%
Q1 23
€ 58,005 M
Deficit
% GDP
Million €
*Consensus Forecasts
LA-5: Latin America-5 → Brazil, Chile, Colombia, Mexico y Peru
+1.5%
GDP 2023*
+1.7%
GDP 2024*
y-o-y
y-o-y
% y-o-y change Inflation
% y-o-y change
98.8
127
116.1
113.7
131.4 130.5
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Mar-23
May-23
Imports
Exports
16.8
11.0
38.9
6.0
5.1
22.2
Compensation of employees
Intermediate consumption
Social benefits (exc. in kind)
Interest
GFCF
Other
*Forecasts
6.0 5.4
3.9
7.8
3
4
5
6
7
8
9
10
11
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
Sep-23
Dec-23
Mar-24
Jun-24
Sep-24
Dec-24
Headline
Core