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The Banco de España Business Activity Survey: 2023 Q4

Author

Listed:
  • Alejandro Fernández Cerezo

    (Banco de España)

  • Mario Izquierdo

    (Banco de España)

Abstract

Rationale The Banco de España Business Activity Survey (EBAE) provides real-time information on a broad sample of Spanish firms’ turnover, employment and costs and prices. This is particularly helpful for diagnosing current economic developments. Takeaways •Firms reported no change in their turnover in 2023 Q4, after it decreased in Q3, and perceived a fall in employment. •Inflationary pressures on production costs and selling prices are reported to have softened somewhat, but expectations suggest that they will increase slightly next year. •Business activity has been affected by growing economic policy uncertainty, labour shortages and an increase in factors related to the tightening of financing conditions (difficulties in accessing finance and higher financial costs).

Suggested Citation

  • Alejandro Fernández Cerezo & Mario Izquierdo, 2023. "The Banco de España Business Activity Survey: 2023 Q4," Economic Bulletin, Banco de España, issue 2023/Q4.
    • Handle: RePEc:bde:journl:y:2023:i:04:n:07
    DOI: https://doi.org/10.53479/35654
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    More about this item

    Keywords

    Economic outlook; turnover; employment; prices;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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