Podcast Summary: Más de uno – "El consumo se dispara: España cierra el año con gasto récord y confianza en máximos desde 2006"

Host: Carlos Alsina (OndaCero)
Guest: José Carlos Díez
Date: 10 de diciembre de 2025

Overview

In this lively episode of "Más de uno," Carlos Alsina and economist José Carlos Díez discuss Spain's booming year-end economic figures. With record-breaking consumer spending and consumer confidence levels not seen since 2006, the hosts explore what's driving this surge and what it could mean for Spain's future economic prospects.

Key Discussion Points & Insights

1. Record-High Consumption and Economic Growth

• José Carlos Díez notes that year-end data shows a striking increase in economic activity:
  • VAT (IVA) revenue is up by 10%.
  • Private consumption grows by 4%.

    "La recaudación por IVA crece un 10 % y... el consumo privado crece un 4 %." (José Carlos Díez, 00:10)

• Consumer confidence is at its highest point since 2006, despite ongoing global economic challenges.
• Employment is up 3%, and average salaries have increased by 4%, outpacing inflation.

  "Según la Agencia Tributaria, el empleo crece un 3 % y los salarios en media un 4 %, un punto y medio por encima de la inflación." (José Carlos Díez, 00:33)

2. Sector-Specific Surges

• Car sales among individuals have grown by 20%.
• Housing sales are up 15%.

  "Las ventas de coches entre particulares crecen un 20 % y las ventas de casas un 15 %." (José Carlos Díez, 00:18)

• These figures suggest a willingness among Spaniards to make significant purchases, reflecting both confidence and optimism.

3. Context of Global Economic Headwinds

• José Carlos contextualizes the Spanish boom against ongoing international strains, such as lingering tariffs from the Trump era.

  "Con la economía mundial resintiéndose aún de los aranceles de Trump..." (José Carlos Díez, 00:13)

• Despite an uneasy international climate, Spain stands out as “growing as if there were no tomorrow.”

  "Carlos, los españoles gastamos como si no hubiera mañana." (José Carlos Díez, 00:40)

4. Notes of Caution

• While celebrating the positive indicators, José Carlos introduces a note of prudence:

  "Sería necesaria algo de mesura..." (José Carlos Díez, 00:41)

• He points out that with European Central Bank interest rates at 2%, the current growth in consumption is robust, but a balance is needed to avoid overheating.

Notable Quotes & Memorable Moments

• José Carlos Díez:
  • “Carlos, los españoles gastamos como si no hubiera mañana.” (00:40)
  • “La recaudación por IVA crece un 10 % y según la Agencia Tributaria el consumo privado crece un 4 %.” (00:10)
  • “La confianza de los consumidores con respecto a su propio hogar están en máximos desde 2006.” (00:23)
  • “Sería necesaria algo de mesura, pero creciendo tanto y con tipos del BC al 2%, el consumo.” (00:41)

Segment Timestamps

• [00:06] Start of segment: Economic outlook for next year
• [00:10] VAT and private consumption data
• [00:13] Global context: Trump tariffs
• [00:18] Car and housing sales increase
• [00:23] Consumer confidence at record levels
• [00:33] Employment and salary growth
• [00:40 - 00:41] Memorable summary and caution

Summary Flow & Takeaways

The hosts present a data-rich analysis of Spain’s economic surge in 2025, emphasizing record consumption, high employment, and real wage growth, all against a backdrop of global uncertainty. José Carlos Díez’s candor and wit, combined with his prudent economic warnings, make for an informative and engaging commentary that reflects optimism—but urges balance—as Spaniards close out a year of impressive economic recovery and confidence.