2023-12-03 12:02:10
Next year will be marked by the cooling of the Spanish economy due to the loss of steam in domestic demand and exports, which will cause GDP to grow by only 1.6%, according to the forecasts of the Economic and Business Council that prepares PwC. The report, prepared from the opinion of a panel of 450 experts, businessmen and managers, reflects a deterioration in the opinion of the panelists about the economic situation for next year.
Thus, the respondents who rate the current situation as good have fallen almost twenty points compared to last June's report (from 51% to 33%), and those who consider it average have risen in an almost identical proportion (up to 61%). . When asked about how the activity will evolve in a year, a majority of 53% predict that it will get worse. All of this is reflected in a growth forecast for the Spanish economy of 2.1% for 2023, and 1.6% for 2024, three tenths less than in the previous quarter's study.
Even so, it is a more optimistic forecast than the one made by the OECD last week, which estimates that the Spanish economy will grow by 1.4% next year, and BBVA Research, which believes that it will advance by 1.5%. It is half a point less than the Government's forecasts, which in its Budget Plan sent to Brussels points to an advance of 2% in 2024.
The experts consulted justify the slowdown in economic expansion in that the fall in demand, since they anticipate that families will moderate their consumption in the next six months. In his opinion, the most significant stoppage will be experienced by home purchases, which will decrease according to 75% of those surveyed.
On the part of companies, the determining factor will be the impact that the deterioration of our main foreign markets on exports will have on activity. It grows by ten points, to 53%, those who say that the economic and financial situation of the companies is regular, and rises to 47%, those who believe that the prospects for foreign markets are unfavorable.
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