The uneven age of artificial intelligence

Letter from the Editors

Spanish economy

The impact of the Middle East conflict on the Spanish economy

The conflict in the Middle East has renewed inflationary pressures in Spain through higher energy and commodity prices, further weakening a growth outlook ...

Trade agreements

EU trade agreements and goods exports: The Spanish differential

Spanish goods exports exhibit greater responsiveness to EU trade agreements than those of other member states, with the divergence becoming more pronounced ...

Dollar hegemony

The dollar′s uncertain hegemony: Headed towards a new equilibrium?

The dollar has lost more than 11% of its effective exchange rate value since early 2025, defying the appreciation that would normally accompany higher tariffs. ...

Private credit

Private credit and the relocation of risk in modern finance

Private credit has expanded rapidly into segments vacated by banks, emerging as a central pillar of corporate financing within the non-bank ecosystem. Its ...

Spanish Banks

Geopolitics and the internationalization of Spanish Banking: Risk and diversification

Rising geopolitical tensions are increasingly shaping bank valuations, financial conditions, and risk perceptions in global markets. Spanish banks’ high ...

Insurance regulation

A decade of Solvency II and the review underway

Since 2016, Solvency II has reinforced solvency, governance and supervisory convergence across the EU, but has also revealed procyclical pressures, an ...

AI limitations

The limitations of AI and their implications for the economy

Public debate on AI oscillates between dismissal and alarmism, but both extremes stem from the same misunderstanding: misreading what the technology actually ...

AI diffusion

AI diffusion in the EU: Why geography still determines technology adoption

AI adoption among EU firms has accelerated rapidly but remains highly uneven, with Scandinavian economies recording adoption rates above 35% compared with ...

AI disruption

Artificial intelligence and the labor market in Spain: Occupational exposure and estimated effects on employment

AI adoption among Spanish firms rose from 12.4% to 21.1% between 2023 and 2025, concentrated in sectors where exposure to automation is already highest. While ...

Regulation and Economic Outlook
Recent key developments in the area of Spanish financial regulation
Prepared by the Regulation and Research Department of the Spanish Confederation of Savings Banks (CECA)
Spanish economic forecasts panel: May 2026
Funcas Economic Trends and Statistics Department
Key Facts
Economic Indicators
Financial Indicators
Social Indicators