The Spanish Business Cycle Observatory assesses the structural factors that explain the cyclical behaviour of the Spanish economy. To this end, the Observatory offers estimates of the contribution of these structural factors to the annual growth rate of the main macroeconomic variables, as well as an in-depth analysis of the weight of the most relevant shocks affecting the evolution of GDP, in general, and of the external sector, in particular.
The Observatory on the business cycle in Spain is the result of the joint work of researchers from the University of ValenciaThe Ministries of Economy y Treasury, BBVA Research, Fedea and the Rafael del Pino Foundation.
ECO Reports
The Observatory's six-monthly reports are available below:
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ECO 2024 Report (October)
The Business Cycle Observatory, an initiative of BBVA Research, Fedea and the Rafael del Pino Foundation, have jointly launched the twelfth edition of the Observatory on the Business Cycle in Spain, entitled "El comportamiento cíclico del PIB y del consumo hasta el segundo trimestre de 2024" (The cyclical behaviour of GDP and consumption up to the second quarter of 2024). This Observatory analyses and quantifies the...
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ECO 2024 Report (April)
The Business Cycle Observatory, an initiative of BBVA Research, Fedea and the Rafael del Pino Foundation, have jointly launched the eleventh edition of the Business Cycle Observatory in Spain, entitled "Business Cycle, Employment and Productivity in 2023". This Observatory analyses and quantifies the influence of a wide range of factors on the economic...
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ECO Report 2023 (October)
The Business Cycle Observatory, an initiative of BBVA Research, Fedea and the Rafael del Pino Foundation, have jointly launched the eleventh edition of the Observatory on the Business Cycle in Spain, entitled "Business Cycle and Investment in Spain after the revision of the Quarterly National Accounts". This Observatory analyses and quantifies the...
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ECO Report 2022 (April)
The Spanish economy in the first year of the Ukrainian war In this new version of the Observatory, Observatory researchers José E. Boscá, Rafael Doménech, Javier Ferri, Vicente Pallardó and Camilo Ulloa present the explanatory factors of the economic cycle in the first year of the Ukrainian war, with the information available up to the present...
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ECO Report 2022 (October)
The Spanish economy faces the challenge of inflation The Business Cycle Observatory, an initiative of BBVA Research, Fedea and the Rafael del Pino Foundation, updates the study of the determinants of the business cycle in Spain with the information available up to the second quarter of 2022, including the latest revision of GDP and its determinants....
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ECO Report 2022 (March)
Crisis and recovery of the Spanish economy after two years of COVID-19 Observatory researchers José E. Boscá, Rafael Doménech, Javier Ferri, Vicente Pallardó and Camilo Ulloa present the explanatory factors of the economic cycle, the crisis and the recovery of the Spanish economy after two years of COVID-19. This new version of the Observatory updates the...
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ECO Report 2021
José E. Boscá, Rafael Doménech, Javier Ferri and Camilo Ulloa present the explanatory factors of the business cycle one year after the Great Depression in the OCE Report 2021. This new version of the Business Cycle Observatory 2021 updates the study of the determinants of the business cycle in Spain with the information available up to the second half of the year....
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ECO 2020 Report
In this space we provide you with the OCE Report, the result of the work carried out within the framework of the Business Cycle Observatory.
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OCE Report 2019
In this space we provide you with the OCE Report, the result of the work carried out within the framework of the Business Cycle Observatory.
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OCE Report 2018
In this space we provide you with the OCE Report, the result of the work carried out within the framework of the Business Cycle Observatory.
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OCE Report 2017
In this space we provide you with the OCE Report, the result of the work carried out within the framework of the Business Cycle Observatory.
