Spanish Economy 2023-2024: Transition from Rapid to Slow Growth
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The main theme of the text revolves around the economic outlook of Spain for 2023-2024. It begins by detailing the Q4 2022 performance of the Spanish economy, which showed a positive growth rate, albeit slowing, largely contributed by external demand and changes in inventories. The growth in 2022, mirrored that of 2021, driven by the lifting of travel restrictions and the rebound in tourism and leisure activities.
Looking Ahead: Forecasting Economic Developments
The text further delves into future economic predictions, suggesting that growth might slow down in 2024 due to tightening financial conditions, despite a slight increase in activity in Q1 2023. The authors retain their earlier growth forecasts, expecting a 1.2% growth in 2023 and 1% in 2024. They also predict fluctuations in inflation rates, expecting it to average 4.5% in 2023 and fall to 2.4% in 2024.
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