20 sep 2016
Economic outlook

Economic outlook of the Spanish economy in the first half of 2016

Given the good performance of the Spanish economy in the first half of 2016, the forecast for 2016 has been revised upward, with an expected GDP growth of 3.1%.

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However, we still maintain the forecast for a slowdown in 2017, both in GDP and in employment, estimating activity growth at 2.3% and 2.2% for employment, due to the depletion of the factors that have reactivated the economy in 2015 y 2016, which have been mentioned above. This scenario has added risks on the downside, such as the possible impact of the Brexit in key sectors of the Spanish economy, the implementation of the fiscal adjustment measures to meet the new public deficit targets set by the European Commission and the political uncertainty in our country if a Government is not formed.

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