西班牙10年期国债 (Spain10Y) 加自选

标准普尔全球周五将西班牙的长期主权信用评级从A上调至A+，同时确认前景稳定，理由是该国外部财政在高储蓄和强劲出口的支持下，私营部门推动了改善。十年的私营部门去杠杆化加强了西班牙的外部资产负债表，使经济不易受到突然的外部融资冲击，对经济衰退更具弹性。该机构在一份声明中表示：“西班牙以服务业为基础的经济和有限的美国贸易敞口使其免受美国商品关税的直接影响。”。政府预计今年国内生产总值将增长2.6%。第二季度，在投资和消费的推动下，国内生产总值增长了2.8%。穆迪对西班牙的信用评级最后被定为Baa1，前景乐观，而DBRS最近将西班牙评级为a（高），前景稳定。

S&P Global raised Spain's long-term sovereign credit rating to A+ from A on Friday while affirming a stable outlook, citing a private sector–driven improvement in the country’s external finances, supported by high savings and strong exports. A decade of private sector deleveraging has strengthened Spain’s external balance sheet, making the economy less vulnerable to sudden external financing shocks and more resilient to economic downturns. “Spain’s service-based economy and limited US trade exposure insulate it from the immediate consequences of US merchandise tariffs,” the agency said in a statement. The government expects GDP to grow by 2.6% this year. In the second quarter, GDP expanded 2.8%, driven by investment and consumption. Moody's credit rating for Spain was last set at Baa1 with a positive outlook, while DBRS most recently rated Spain at A (high) with a stable outlook.

2025年8月，西班牙的年通货膨胀率为2.7%，为五个月来的最高点，与7月持平，与初步估计一致。这一发展的关键是运输成本的急剧增加（7月份为1.2%对0.2%），特别是客运航空运输，但被食品和非酒精饮料通胀放缓（2.3%对2.7%）所抵消，尤其是水果。由于电力增长放缓，住房和公用事业价格也有所回落，从7月份的6.7%上涨了6%。与此同时，核心通胀率（不包括食品和能源等波动性成分）在8月份升至2.4%的四个月高点，而7月份为2.3%，与初步估计相符。考虑到欧盟的协调，CPI同比增长2.7%，环比保持不变，两者均符合初步估计。在7月份下降0.1%之后，消费者价格指数与早些时候持平。

Spain's annual inflation stood at a five-month high of 2.7% in August 2025, unchanged from July and aligning with preliminary estimates. Key to this development was a sharp increase in transportation costs (1.2% vs 0.2% in July), notably passenger air transport, which was offset by a slowdown in food and non-alcoholic beverage inflation (2.3% vs 2.7%), especially fruit. Housing and utilities prices also eased, rising 6% compared to 6.7% in July, amid a slower increase in electricity. Meanwhile, core inflation—which excludes volatile components like food and energy—ticked up to a four-month high of 2.4% in August, compared to July's 2.3%, matching the initial estimate. Considering the EU-harmonised, the CPI increased 2.7% on an annual basis, and was unchanged month-on-month, both in line with the preliminary estimates. On a monthly basis, consumer prices were flat, matching the earlier reading, after a 0.1% decrease in July.

2025年7月，西班牙工业生产同比增长2.5%，为2024年10月以来的最快增速，标志着连续五个月的扩张。6月份的读数下调至1.9%。能源增长从6月份的7.5%略微降至5.8%，但仍然是一个关键驱动力，而中间产品（2%对0.9%）和消费品（1.9%对0.4%）的增长势头有所回升。相反，资本货物的产出下降（-1.6%对3.9%）。经季节性调整的月度数据显示，7月份工业产出下降0.5%，而前一个月则向下修正了0.8%的增长。

Spain’s industrial production advanced 2.5% year-on-year in July 2025, the fastest pace since October 2024 and marking five straight months of expansion. The June reading was revised down to 1.9%. Energy growth cooled slightly to 5.8% from 7.5% in June but remained a key driver, while intermediate goods (2% vs 0.9%) and consumer goods (1.9% vs 0.4%) picked up momentum. Conversely, output declined for capital goods (-1.6% vs 3.9%). On a seasonally adjusted monthly basis, industrial output fell by 0.5% in July, after a downwardly revised 0.8% rise in the previous month.

西班牙消费者信心指数从前一个月的19个月低点76.1升至2025年7月的82.9，为今年1月以来的最高水平。这一改善是由衡量消费者预期的指数（6月份为84.1比81.8）推动的，而衡量当前状况的指数也大幅上升（81.8比75.6）。

The consumer confidence index in Spain rose to 82.9 in July of 2025 from the 19-month low of 76.1 in the previous month, marking the strongest reading since January of this year. The improvement was driven by the index measuring consumer expectations (84.1 vs 81.8 in June), while the index measuring current conditions also rose sharply (81.8 vs 75.6).