The independent agency updated its model for forecasting real-time (MIPred) development of Gross Domestic Product (GDP) this Friday, after learning about the average Social Security participation data for May.
Although the data is preliminary and will be updated by adding new indicators to the model, AIReF currently points to a 1% GDP forecast for the second quarter of 2023; 2,3% rate.
“This 1 percent rate means that the GDP index will be above the level observed before the Covid-19 outbreak in the fourth quarter of 2019,” the organization headed by Cristina Herrero said.
Model released this Friday Include 28.6% of data for the second quarter of 2023 in the forecast (57.1% April, 28.6% May, 0% June). Among the upcoming indicators waiting to be released this quarter, the INE’s final quarterly GDP data, electricity consumption or Industrial Production Index and others stand out.