Financial Market: Real Effective Exchange Rates: Unit Labor Costs Based for Spain
CCRETT02ESQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.88
Year-over-Year Change
5.55%
Date Range
1/1/1970 - 4/1/2025
Summary
The Real Effective Exchange Rate (REER) for Spain based on unit labor costs is an indicator of the country's international competitiveness. It tracks changes in the purchasing power of the Spanish currency relative to its major trading partners.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The REER index measures the value of the Spanish peseta or euro relative to a basket of other currencies, adjusted for differences in relative prices or unit labor costs. This provides insight into Spain's trade balance and economic performance compared to its global competitors.
Methodology
The data is calculated by the Bank for International Settlements using exchange rates and inflation or labor cost differentials.
Historical Context
The REER is closely monitored by policymakers and analysts as a gauge of Spain's export potential and overall economic health.
Key Facts
- The REER index is calculated using a trade-weighted basket of currencies.
- Spain's REER has fluctuated significantly over the past two decades.
- Rising REER can indicate a loss of export competitiveness for Spain.
FAQs
Q: What does this economic trend measure?
A: The Real Effective Exchange Rate (REER) for Spain based on unit labor costs tracks changes in the international purchasing power of the Spanish currency.
Q: Why is this trend relevant for users or analysts?
A: The REER provides insight into Spain's trade balance and economic competitiveness compared to its major trading partners, which is critical information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the Bank for International Settlements using exchange rates and inflation or labor cost differentials.
Q: How is this trend used in economic policy?
A: The REER is closely monitored by Spanish and European policymakers as an indicator of the country's export potential and overall economic health.
Q: Are there update delays or limitations?
A: The REER data is published monthly with a short delay, and may be subject to revisions based on updated exchange rate and inflation information.
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Citation
U.S. Federal Reserve, Financial Market: Real Effective Exchange Rates: Unit Labor Costs Based for Spain (CCRETT02ESQ661N), retrieved from FRED.