Spain Economic Outlook
bet360备用网址March 3, 2020Available data hints at slowing momentum at the turn of 2020, after economic growth accelerated and beat expectations in the final quarter of last year on an upbeat external sector. The composite PMI slipped in January amid softer services activity growth, with the sector’s PMI falling to an over six-year low as political uncertainty weighed on new business and confidence. Moreover, employment growth eased sharply in the same month, which, coupled with consumers turning more pessimistic from Q4, suggests persistent weakness in private consumption. Meanwhile, the new minority coalition government pushed its first major legislation through Parliament on 27 February, which lays out new fiscal deficit targets for 2020–2023 and thus opens up a process to approve its 2020 budget. This year’s target was set at 1.8% of GDP, smaller than last year’s estimated 2.0% but larger than what was agreed upon with European authorities two years ago.
Spain Economic GrowthGrowth is projected to ebb this year. That said, healthy household spending, supported by rising real disposable incomes, should buffer the slowdown. Increased competition to the key tourism industry; lingering global trade tensions; slowing Eurozone demand; and potential negative spillovers from the coronavirus outbreak pose major external risks ahead. FocusEconomics panelists forecast growth of 1.6% in 2020, which is unchanged from last month’s forecast, and 1.6% again in 2021.
Spain Economy Data
5 years of Spain economic forecasts for more than 30 economic indicators.
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Spain Economic News
March 11, 2020
bet360备用网址Retail sales rose increased 0.9% year-on-year in January, easing from the revised 2.0% rise (previously reported: +1.9% year-on-year) logged in the final month of 2019 and marking the softest increase in seven months.
March 6, 2020
bet360备用网址Industrial production declined 2.1% year-on-year in seasonally- and calendar-adjusted terms in January, contrasting December’s revised 1.1% expansion (previously reported: +0.8% year-on-year) and marking the sharpest contraction in 10 months.
March 4, 2020
bet360备用网址Largely reflecting a return to growth by the manufacturing sector, the IHS Markit composite Purchasing Managers’ Index (PMI) edged up to 51.8 in February from 51.5 in January.
February 28, 2020
bet360备用网址Spain’s current account balance recorded a surplus of EUR 2.2 billion in the final month of 2019, above the EUR 1.8 billion surplus recorded in December 2018 but below the EUR 3.4 billion surplus logged in November.
February 27, 2020
The Spanish Board of Architects approved 8,072 new construction permits in December 2019, according to data published by the Ministry of Public Works.