Amid signs of an economic slowdown, the Bank of Spain and the Spanish government have recently revised downwards their growth forecasts for 2024. Factors such as the cumulative loss in household purchasing power, the tightening of monetary policy, and the sharp slowdown in Europe (critical to Spain’s exports) are clouding the economic outlook. In this chartbook, we present our vision of the Spanish economy in a concise manner, based on the factors determining growth and the economy's resilience: