Spain grows. And he does it with force. The GDP advanced close to 3% in 2025 and at the start of 2026 it remains strong (year-on-year improvement of 2.7% in the first quarter) and employment is at historic highs. But when growth is translated into per capita income and the inflation accumulated since the pandemic is discounted, the improvement is much more modest than the big headlines suggest. According to Eurostat, GDP per capita adjusted for purchasing power is around 92% of the European Union (EU) average, still more than twenty points below economies such as Germany and close to ten points below France. Continue reading
