Macro - Country Economic Forecasts - Spain

Macro - Country Economic Forecasts - Spain

Monthly data shows that the Spanish economy is enduring the energy crisis better than we expected, suggesting it will likely avoid a recession. As a result, we have upgraded our 2023 GDP growth forecast a notch, to 1.1% from 1%. Additionally, an upward revision to national accounts means GDP likely expanded above 5% for a second consecutive year in 2022. But the near-term outlook is challenging, as high inflation, rising interest rates, and a negative external environment will likely lead to sluggish activity over the next few months.

Spain: economy looks likely to avoid recession
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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