Macro - Country Economic Forecasts - Spain

Macro - Country Economic Forecasts - Spain

A revision to national accounts revealed that the Spanish economy recovered from the pandemic shock earlier than previously thought. Yet, monthly data still point to weak economic growth in H2, as high interest rates and an adverse external environment hits growth, and services activity remains weak. We expect GDP to expand by 2.4% in 2023 and moderate to 1.3% in 2024.