Spain Petrochemicals Q1 2020
Brexit and the US-China trade war will be enduring risks that will dampen petrochemicals output growth in Spain. Thepolitical crisis in Catalonia, where petrochemicals industries are concentrated, has abated but the country remains politicallyunstable. An economic downturn caused by these factors would spur further structural reforms aimed at boosting competitivenessin key export industries, including controversial labour market reforms and potential reductions in capacity along the value chain. Areduction in economic growth could crimp petrochemicals output growth over the medium term.
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