The regional dimension of the Banco de España Business Activity Survey

Rationale The Banco de España Business Activity Survey (EBAE) may be a useful source of information for monitoring regional economic developments. This article aims to analyse the regional dimension of the EBAE results. Takeaways •Harnessing the regional dimension of the EBAE seems appropriate, as the regional distribution of firms in the sample is similar to that of the universe of firms and, moreover, some of the survey results are strongly correlated with other indicators available at regional level. •Based on the EBAE results, over the last four quarters (2022 Q3 to 2023 Q2) turnover proved more buoyant in the Canary Islands and the Madrid region, whereas in the South, Centre, North-West and Catalonia it was more sluggish. •Overall, the regions where turnover performed more positively over the last 12 months are those which in mid-2022 lagged farther behind in recovering their pre-pandemic GDP level and those facing more favourable demand conditions.