The Spanish economy is expected to grow by 2.6% this year, slightly less than previously forecast.
Spanish GDP was initially forecast to rise by 2.7% in 2018, but received a downward revision last month due to a “worsening of the outlook regarding the evolution of foreign markets”, according to the Bank of Spain’s most recent quarterly report.
Spanish economic forecasts for the next two years have already been revised, going from an initial growth rate of 2.4% and 2.1% in 2019 and 2020 respectively, to 2.2% and 2%. However, it is not all bad news – the Spanish economy will grow, spurred on by domestic demand rather than external, albeit “at a lower rate than in recent years”, says the Bank of Spain.
Tags: Bank of Spain, Spanish economy, Spanish GDP