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The pace of global economic recovery slows down
IN ADDITION TO THE LONG-TERM CONSEQUENCES OF THE PANDEMIC, THE RUSSIA-UKRAINE WAR AND GEO-ECONOMIC FRAGMENTATION, THERE ARE CYCLICAL CAUSES: TIGHTENING OF MONETARY POLICY, WITHDRAWAL OF FISCAL AID IN THE CONTEXT OF HIGH DEBT AND EXTREME WEATHER EVENTS
SIGNS THAT THE POST-PANDEMIC REBOUND IS FADING …
- Decline in cumulative pandemic savings in advanced economies, especially the US
- Persistent slowdown in the manufacturing sector: ▼ industrial production, investment and international trade in goods
- Slowdown in the recovery of the services sector
Spain drops out of Europe’s top 10 for economic prosperity
IMF FORECASTS SPANISH GDP GROWTH OF 2.5% Y-O-Y IN 2023* AND 1.7% IN 2024
In 2024, Spain ranks 11th in the Eurozone growth ranking, 8 less than in 2023
Average inflation in Spain in 2024* rises to 3.9%, 6 tenths of a pp higher than in the Eurozone