Good economic forecasts are accumulating. CaixaBank Research plans to upgrade about 2% The increase in gross domestic product (GDP) for this year in Spain, according to its last monthly report corresponding to May.
Oriol Aspachs, The Director of the Spanish Economy of the financial institution’s research service confirms: “Given that everything shows that growth will continue to be positive, we will soon revise our forecast upwardsAnd we’ll probably put it around 2%.”
According to CaixaBank analysis, GDP growth accelerated in the first quarter of this year to 0.5% compared to the previous quarter. This means it has practically reached pre-pandemic levels (just 0.2% below).
review in 2022
Moreover, INE revises growth in the second half of last year upwards, “this includes a notable drag effect for this year”. As an example, even in a hypothetical situation where quarter-to-quarter growth for the rest of the year is 0%, the data for the whole of 2023 will reach 1.6%, the manager of this asset emphasizes in his comment.
The Bank of Spain expects to revise its growth forecast for this year to close to 2%, above the 1.6% rise in March. This estimate is close to the estimate included in the 2023-2026 stabilization program update sent to Brussels by the Government.