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Lockdown and halt of ‘non-essential activities’ were in force from 14 March 2020 to 28 April 2020. Towards the first days of May, the downscaling process began and non-essential activities could progressively open again, yet regarding some limitations up to 21 June 2020, when all limitations were lifted and the whole Spanish territory flowed into ‘new normal life’.
[[File:Logo MonografíaSpain_Evolution-in-Gross-Value-Added_2018-2020_statisticalgraph_17959_eng.jpg||left|thumb|300px|Statistical graph: Evolution in gross value addedGross Value Added. 2018-2020. Spain.]][[File:Logo MonografíaSpain_Evolution-in-the-industrial-production-index_2018-2020_statisticalgraph_17801_eng.jpg||right|thumb|300px|Statistical graph: Evolution in the industrial production index. 2018-2020. Spain.]][[File:Logo MonografíaSpain_Evolution-in-the-services-sector-activity-indicators_2018-2020_statisticalgraph_17802_eng.jpg||left|thumb|300px|Statistical graph: Evolution in the services sector activity indicators. 2018-2020. Spain.]][[File:Logo MonografíaSpain_Evolution-in-companies-established-and-dissolved_2018-2020_statisticalgraph_17788_eng.jpg||right|thumb|300px|Statistical graph: Evolution in companies established and dissolved. 2018-2020. Spain.]]
Economy plummeted by -21.6% during the second quarter of 2020 compared to the same period in 2019. However, the negative effects of the first wave of the pandemic also extended -albeit to a lesser extent- into the first and third quarters of the year, when contractions of -4.2% and -9.0% were registered. In short, the first wave of the pandemic caused a disruption in economic activity never seen before that affected good and service production, distribution and transportation, as well as remarkable effects on international trade (see the ''Annual Report'' from the Bank of Spain (2020) for further details).
