7 May 2025 | Euro

Spanish blackout cost country 400 million euros — CaixaBank

Spanish blackout cost country 400 million euros — CaixaBank

A massive power outage across Spain on April 28 led to economic losses of approximately 400 million euros ($454.68 million), according to an analysis by CaixaBank. Consumer spending plummeted by 34% on the day of the outage and remained 15% below normal even after power was partially restored in the following days.

Despite these significant economic losses, CaixaBank estimates that the blackout will have a minimal impact on quarterly GDP, less than one-tenth of a percentage point. The outage affected 50 million people in Spain and Portugal, disrupting transportation, telecommunications, and retail sectors, Bloomberg reports.

Even with these unforeseen disruptions, Spain’s economy remains robust, according to the bank’s experts. Economic growth is forecasted at 2.6% for this year and 2.2% for 2026. Analysts anticipate that most of the economic effects from the blackout will be temporary.

Elena Berseneva MarketCheese
Period: 03.04.2026 Expectation: 250 pips
Investing in Brent crude with $113 in view
Yesterday at 11:57 AM 35
Period: 07.04.2026 Expectation: 920 pips
Buying AUDUSD with 0.6945 in sight as technicals flash oversold
Yesterday at 11:49 AM 22
Period: 30.04.2026 Expectation: 5500 pips
Selling Tesla stocks upon breaking support
Yesterday at 10:47 AM 24
Period: 07.04.2026 Expectation: 5100 pips
Selling Bitcoin with $62,500 target on weakening buying interest from major players
Yesterday at 08:16 AM 26
Period: 06.04.2026 Expectation: 6500 pips
Active silver sell-off gives way to accumulation phase
30 March 2026 65
Period: 29.05.2026 Expectation: 3600 pips
Selling EURUSD down to 1.11500
30 March 2026 35
Go to forecasts