A record-long power outage in Spain resulted in a significant economic impact, with the country’s largest domestic bank estimating an estimated loss of €400 million to GDP. The blackout, which affected over 50 million people across mainland Spain and Portugal, halted consumer activities like shopping and travel. CaixaBank’s analysis based on card payments, online orders, and cash withdrawals showed a 34% drop in consumer spending on Sunday, April 28th, as a result of the power outage. While some spending rebounded later in the week, the overall loss reached a staggering 15%. Experts believe that the blackout will have a negligible impact on the quarterly GDP, estimated at less than one-tenth of 1% according to CaixaBank’s study. The cause of the blackout is still under investigation as grid operator Red Eléctrica attributed it to two separate faults impacting the power system