What is the Outlook for the Spanish Economy?
Fecha: marzo 2012
Autores: Ángel Laborda, María Jesús Fernández
Etiquetas: Previsiones económicas, Crecimiento económico, Coyuntura económica
Economic growth in Spain in 2011 as a whole was 0.7%. Although this was a better result than the -0.1% registered in 2010, the evolution throughout the year as a whole was negative and the growth outlook for 2012 points to further deterioration. The huge imbalances that built up during the expansionary phase are in the process of correction, but this will take some time and remain an obstacle to the start of recovery, leaving the economy extremely vulnerable to shocks. Nevertheless, towards the end of this year, some positive effects of fiscal consolidation, financial restructuring, and structural reform efforts, such as the labour market reform, may begin to show, ultimately leading to modest positive quarterly growth rates in 2013, albeit subject to a high degree of uncertainty.