Macro - Country Economic Forecasts - Spain

Macro - Country Economic Forecasts - Spain

We have further lowered our 2023 GDP growth forecast for Spain by 1ppt to 1% to reflect the prospects of higher-for-longer energy inflation, a harsher recession in the eurozone this winter, and stronger monetary tightening by the ECB. Although strong tourism inflows should continue in the near term, leading indicators suggest activity is already slowing sharply. The outlook continues to be dominated by high inflation and a deterioration in the external environment, as Europe prepares for a winter of curtailed gas supplies and soaring energy prices. We continue to see GDP growing 4.3% this year.

Spain: economy headed for Recession as price surge hits
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
risk warnings
What to watch out for
Exposure to Key global risks
Long-term prospects
Economic development
Structure of the economy
Balance of payments and Structure of trade

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