Financial accounts Spanish economy Growth and inflation forecasts Spain Retail trade volume US CPI Global foreign direct investment Artificial intelligence (AI) index 2023

1. Economy…
at a glance
April 2023
8.3
4.3 3.2
2022 2023* 2024*
196.3 231.5 226.0 205.4
Q4 19 Q4 20 Q4 21 Q4 22
Retail trade volume (Eurostat)
Feb. 22
monthly
-0.3%
y-o-y
+4.7%
Spain
y-o-y
-3.1%
EU-27
By product type Spain
% y-o-y change
% y-o-y change
Growth and inflation forecasts Spain (IMF)
2023
y-o-y
1.5%
2024
y-o-y
2.0%
% y-o-y change
GDP
Inflation
Eurozone GDP
% y-o-y change
Financial accounts Spanish economy (Bank of Spain)
Q4 22 bn€
Corporateand
householddebt
y-o-y
-1.3%
€ 1,660 bn
r/ Q4 19
+3.1%
(125.2% GDP)
702.8
(53% GDP)
700
705
710
Q4
18
Q4
19
Q4
20
Q4
21
Q4
22
Households
957.6
(72.2% GDP)
890
940
990
Q4
18
Q4
19
Q4
20
Q4
21
Q4
22
Companies
Households financial assets
€ 2,726 bn (205.4% GDP, -20.6 pp y-o-y)
% GDP
By instrument - % total financial assets
(% y-o-y change in pp)
39.6
30.5
14.2
12.2
3.5
Cash and deposits
(+1.6pp)
Equity investments
(+1.2pp)
Investment fund shares
(-1.2pp)
Insurance and pension
funds (-2pp)
Other (+0.3pp)
* Forecasts
2023
2024
* *
GDP
GDP

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.
0
3
6
9
60
90
120
150
180
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Geopolitical risk
Interest in reshoring (right axis)
Global foreign direct investment (IMF)
2022
Global GDP
1.7%
r/ 2000-09
average
-1.6pp
% GDP
1.7
0
1
2
3
4
5
6
1980
1983
1986
1989
1992
1995
1998
2001
2004
2007
2010
2013
2016
2019
2022
Global
financial
crisis
r/max. 2007
-3.6pp
Index (annual average,
1985-2019=100)
▲geopolitical risk → ▲ interest of companies in reshoring
Reshoring of business investment
Mentions of
reshoring*
* In firms´ earnings calls
Artificial intelligence (AI) index 2023 (Standford University)
2022
y-o-y
-26.7%
level 2015
x6.8times
PrivateinvestmentAI
$ 91.9 bn
Top 10 countries - Job offers
requiring some AI skills
of total offers
bn $
Top 10 countries – Private investment
15th
…
1st
2nd
3rd
4th
5th
6th
7th
8th
9th
10th
US CPI (Bureau of Labor Statistics)
Mar. 23
General Index
+0.1%
monthly
+5%
y-o-y
Core CPI
+5.6%
y-o-y
% y-o-y change General CPI by type of goods
% y-o-y change