Country Economic Forecasts - Spain
After a surprise rise in GDP in Q4, the restrictions put in place during Q1 to curb the rise in infections will probably result in a renewed fall in activity. But we still see a recovery starting in Q2 and gaining momentum later in the year, although a successful vaccine roll-out will be key, especially given the importance of the tourism sector. We still forecast GDP growth of 5.8% this year and 6.2% in 2022, both unchanged from last month.
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