However, the outlook for the coming months is more uncertain. The Aragón Economic Outlook bulletin points to a possible slowdown at the end of the year due to geopolitical tensions, rising energy costs and tighter financial conditions. Despite this, the forecast puts growth in Aragon's GDP at around 2.5% in 2026.
EMPLOYMENT HOLDS UP AND UNEMPLOYMENT REMAINS BELOW SPAIN'S RATE
The labor market continues to perform positively. The unemployment rate stands at 8.17% in Aragón, compared with 9.87% in Spain, while employment growth accelerated during the second quarter. Social Security enrollment figures for July and August also maintain this favorable trend, although part of the increase is linked to the process of regularizing the immigrant population.
The other side of the economic situation is reflected in prices. Inflation reached 3.9% in Aragón in August, four-tenths of a percentage point below the national rate of 4.3%. The increase is mainly linked to higher energy costs, while underlying inflation remains more contained, at 2.6% in Aragón. The forecast for the year as a whole is around 3.5%.
Aragon's industrial sector is showing weaker performance. The industrial production index slowed during the second quarter and fell below the national trend, although July data show some improvement. Metallurgy and paper are performing better, while food, machinery and transport equipment are losing momentum.
EXPORTS GROW THANKS TO THE AUTOMOTIVE SECTOR
The foreign sector continues to deliver positive news. Aragon's accumulated goods exports through June grew more than Spain's, driven especially by the performance of the automotive sector. By contrast, foreign sales of food products and semi-manufactured goods declined amid a backdrop shaped by business costs, tariffs and trade restrictions.
