西班牙3个月期国债 (Spain3MonthLetrasYield) 加自选

2025年6月，西班牙接待了约950万国际游客，比2024年同月增长1.9%，创下了该月的新纪录。英国仍然是主要的居住国，6月份有210多万游客，与2024年6月大致相同。德国游客120万人次，增长7.8%，法国游客100万人次，下降0.5%。大多数游客入住四至七晚，近480万人次，年增长2.4%。巴利阿里群岛是6月份最大的旅游目的地，占总数的23.9%，其次是加泰罗尼亚（21.1%）和安达卢西亚（15.0%）。2025年上半年，访问西班牙的游客数量增长了4.7%，达到近4450万人。

Spain received approximately 9.5 million international tourists in June 2025, 1.9% more than in the same month in 2024 and setting a new record for the month. The United Kingdom remained the primary country of residence, with over 2.1 million tourists in June—about the same as in June 2024. Germany accounted for 1.2 million visitors, up 7.8%, while France contributed one million tourists, down 0.5%. The majority of tourists stayed between four and seven nights, with nearly 4.8 million, an annual increase of 2.4%. The Balearic Islands were the top tourist destination in June, accounting for 23.9% of the total, followed by Catalonia (21.1%) and Andalusia (15.0%). In the first six months of 2025, the number of tourists visiting Spain increased by 4.7% to nearly 44.5 million.

HCOB西班牙制造业采购经理人指数从6月的51.4升至2025年7月的51.9，高于预期的51.5。这标志着今年迄今为止经营状况的最大改善，这得益于新项目和需求增强推动的产出稳步增长。新订单增加，创下2024年末以来最快增长，但出口销售仍然疲软。就业增长也达到了2024年12月以来的最高水平。在价格方面，由于与关税和库存短缺相关的供应商加价，投入价格通胀三个月来首次出现。由于企业转嫁了更高的成本，产出费用略有上升。采购活动连续第六个月下降，而投入库存和供应商表现进一步恶化，反映出对现有库存的持续依赖和交货时间的延长。然而，由于全球贸易的不确定性和地缘政治风险给前景蒙上了阴影，商业信心降至三个月低点。

The HCOB Spain Manufacturing PMI rose to 51.9 in July 2025 from 51.4 in June, above the expected 51.5. This marked the strongest improvement in operating conditions so far this year, supported by a solid rise in output, driven by new projects and strengthening demand. New orders increased, recording the fastest growth since late 2024, though export sales remained sluggish. Job growth also reached its highest level since December 2024. On prices, input price inflation returned for the first time in three months, driven by supplier markups linked to tariffs and stock shortages. Output charges rose slightly as firms passed on higher costs. Purchasing activity fell for a sixth month, while input inventories and vendor performance deteriorated further, reflecting continued reliance on existing stock and extended delivery times. However, business confidence weakened to a three-month low, as global trade uncertainty and geopolitical risks clouded the outlook.

西班牙7月制造业PMI为51.9，而预期为51.5。西班牙制造业活动继续回升，7月份是今年迄今为止新订单增幅最大的月份。产出也稳步上升，本月创造的就业机会得以持续。

Spain July manufacturing PMI 51.9 vs 51.5 expected.Spanish manufacturing activity continues to pick up with July marking the best increase in new orders for the year so far. Output also rose to a solid degree and job creation was sustained on the month.

西班牙的经常账户盈余从去年同期的64亿欧元扩大到2025年5月的64.4亿欧元。这标志着有史以来的最高读数，这得益于商品和服务盈余的增加，从2024年5月的92亿欧元增至93.1亿欧元。此外，初级和次级收入赤字从28亿欧元缩小到28.8亿欧元。

Spain’s current account surplus widened to €6.44 billion in May 2025 from €6.40 billion in the same month of the previous year. This marked the highest reading on record, driven by an increase in the goods and services surplus, which rose to €9.31 billion from €9.20 billion in May 2024. In addition, the deficit in primary and secondary income narrowed to €2.88 billion from €2.80 billion.