A more intense slowdown than expected
Published on Monday, October 7, 2019
A more intense slowdown than expected
Summary
The recent review by the INE (Spanish Office of National Statistics) of the Quarterly Accounts came as a surprise, with growth in the second quarter falling below previous progress and the forecasts by analysts and experts.
Key points
- Key points:
- The annualized quarterly rate in the second quarter (1.6%) indicates that the slowdown in the Spanish economy is proving more intense than expected in early 2019.
- In addition, it gives a composition of the aggregate demand that is worse than what we have been dealing with so far.
- While private consumption stagnated with this downward revision, public consumption grew more than domestic demand, which rose by only 0.4% in annualized quarterly rates.
Geographies
- Geography Tags
- Spain
Topics
- Topic Tags
- Employment
- Regional Analysis Spain
Authors
Rafael Doménech
BBVA Research - Head of Economic Analysis
Documents and files
Press article (PDF)
RafaelDomenech_Incertidumbres_sobre_una-desaceleracion_mas_intensa_de_lo_previsto_Vozpopuli.pdf
Spanish - October 7, 2019
Press article (PDF)
RafaelDomenech_More_intense_slowdown_than-expected_Vozpopuli_.pdf
English - October 7, 2019