Overview
- Andalucía’s outlook has been revised to about 3% for 2025, with Málaga leading provincial growth at an estimated 3.7% GDP and a 3.3% rise in social security contributors.
- Castilla y León’s economy expanded 3.5% year over year in Q3, driven by industry, transport and domestic demand, and the regional government now expects at least 2.8% growth for 2025.
- Unicaja’s study unit projects Castilla y León at 2.5% growth in 2025 and 1.8% in 2026, with provincial disparities from roughly 1.6% in Soria to around 3.1% in Salamanca.
- Cantabria is forecast to grow 2.2% in 2025 and 1.7% in 2026, with employment up about 1% this year and unemployment near 7.4%.
- Analysts attribute the near-term strength to domestic demand and services while cautioning that tariffs and wider geopolitical tensions are likely to temper growth in 2026.