![ES.png](https://static.heteronomics.com/images/ES.2e16d0ba.fill-1080x607.png?Expires=1722082599&Signature=3ipS1TFYplKL5C0Bh2RvEwgcEOySCjGr0Kt3r1WGho8~V9bMSQp44mEPwkbPC1Dd2G9uB5mgmugQ9lYYgn5toFsWK0Kuyq9MAGn0BUVBC6gLCZkR0xUCoefJuXyTPhcc7hsrJlIRJvXkdtUbGNg7Lb8Unliqa-fmOSDkDCH8U9TBe8yZRJhyjxF8m-5DrO6kOv9h4j~ltI~ANbbwMvmQmph5etSP8EY-cZ88CY5KyUg~~muuIBi~AEtk2tnA7EI63mDcEZQtBPwW72ztlFriC9YjVtMeibYV0WGP6KU4K-WCrMID-ry0Ztt6lbYJFIBtYIqeODN1O5L~TeZURCuYfg__&Key-Pair-Id=K2NMLIS3J0RGKR)
Spain Flash HICP Inflation 3.5% y-o-y (consensus 3.7%) in Oct-23
- Spain's flash HICP inflation rose to 3.5% year-on-year in October 2023, marking the highest level since April 2023 but undershooting the 3.7% consensus.
- The current inflation rate is 0.39 percentage points below the one-year average, so most of the recent improvement has persisted.
![ES.png](https://static.heteronomics.com/images/ES.2e16d0ba.fill-1080x607.png?Expires=1722082599&Signature=3ipS1TFYplKL5C0Bh2RvEwgcEOySCjGr0Kt3r1WGho8~V9bMSQp44mEPwkbPC1Dd2G9uB5mgmugQ9lYYgn5toFsWK0Kuyq9MAGn0BUVBC6gLCZkR0xUCoefJuXyTPhcc7hsrJlIRJvXkdtUbGNg7Lb8Unliqa-fmOSDkDCH8U9TBe8yZRJhyjxF8m-5DrO6kOv9h4j~ltI~ANbbwMvmQmph5etSP8EY-cZ88CY5KyUg~~muuIBi~AEtk2tnA7EI63mDcEZQtBPwW72ztlFriC9YjVtMeibYV0WGP6KU4K-WCrMID-ry0Ztt6lbYJFIBtYIqeODN1O5L~TeZURCuYfg__&Key-Pair-Id=K2NMLIS3J0RGKR)
Spain Unemployment Rate 11.84% in Q3-23
- Spain's unemployment rate for the third quarter of 2023 reached 11.84%, marking a surprise increase from the previous quarter to the highest level since the first quarter.
- Despite remaining relatively stable compared to the past year, the unemployment rate in Spain is still significantly below the long-run average, indicating a historically tight labour market.
![ES.png](https://static.heteronomics.com/images/ES.2e16d0ba.fill-1080x607.png?Expires=1722082599&Signature=3ipS1TFYplKL5C0Bh2RvEwgcEOySCjGr0Kt3r1WGho8~V9bMSQp44mEPwkbPC1Dd2G9uB5mgmugQ9lYYgn5toFsWK0Kuyq9MAGn0BUVBC6gLCZkR0xUCoefJuXyTPhcc7hsrJlIRJvXkdtUbGNg7Lb8Unliqa-fmOSDkDCH8U9TBe8yZRJhyjxF8m-5DrO6kOv9h4j~ltI~ANbbwMvmQmph5etSP8EY-cZ88CY5KyUg~~muuIBi~AEtk2tnA7EI63mDcEZQtBPwW72ztlFriC9YjVtMeibYV0WGP6KU4K-WCrMID-ry0Ztt6lbYJFIBtYIqeODN1O5L~TeZURCuYfg__&Key-Pair-Id=K2NMLIS3J0RGKR)
Spain PMI Services 50.5 (consensus 49.8) in Sep-23
- Spain's PMI Services in September 2023 reached 50.5, marking an expansion in the sector while surpassing the previous reading of 49.3 and the 49.8 consensus expectation.
- The latest figure is only the highest level since July 2023 but is a step towards recovery, with business conditions improving.
![ES.png](https://static.heteronomics.com/images/ES.2e16d0ba.fill-1080x607.png?Expires=1722082599&Signature=3ipS1TFYplKL5C0Bh2RvEwgcEOySCjGr0Kt3r1WGho8~V9bMSQp44mEPwkbPC1Dd2G9uB5mgmugQ9lYYgn5toFsWK0Kuyq9MAGn0BUVBC6gLCZkR0xUCoefJuXyTPhcc7hsrJlIRJvXkdtUbGNg7Lb8Unliqa-fmOSDkDCH8U9TBe8yZRJhyjxF8m-5DrO6kOv9h4j~ltI~ANbbwMvmQmph5etSP8EY-cZ88CY5KyUg~~muuIBi~AEtk2tnA7EI63mDcEZQtBPwW72ztlFriC9YjVtMeibYV0WGP6KU4K-WCrMID-ry0Ztt6lbYJFIBtYIqeODN1O5L~TeZURCuYfg__&Key-Pair-Id=K2NMLIS3J0RGKR)
Spain PMI Manufacturing 47.7 (consensus 46.5) in Sep-23
- Spain's PMI Manufacturing for September 2023 shows a slight improvement from the previous month, contrary to the consensus, but still indicates a contraction in the sector.
- The reading of 47.7 is below the neutral mark of 50 and falls below the one-year average, pointing to ongoing weaknesses in the manufacturing sector.
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