Series: Economic Bulletin.
Author: Alejandro Fernández Cerezo, Mario Izquierdo and Diana Posada
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Abstract
Rationale
The Banco de España Business Activity Survey (EBAE) provides highly valuable, real-time information on a broad sample of Spanish firms’ turnover, employment, costs and prices. This is particularly helpful for diagnosing current economic developments.
Takeaways
- Firms reported that turnover, in seasonally adjusted terms, has increased in 2025 Q3, following a weaker performance in Q2.
- Inflationary pressures have remained virtually unchanged in Q3, in terms of both the cost of inputs and selling prices. Those associated with labour costs eased slightly.
- Economic policy uncertainty adversely affects business activity. Such impact has decreased slightly in Q3, although it remains high. Labour shortages persist.