Asturias Economic Outlook. First Half 2020

Summary

After growing 1.9% in 2018, the economy of Asturias could have grown by 1.7% in 2019. It will advance by 1.2% in 2020 and 1.4% in 2021, and will add around 3,000 jobs in the biennium. The average GDP pc annual growth rate will be 1.7%, 0.3 p.p. above the Spanish average, due to the worst regional demographic evolution

Key points

• Key points:
• In 2019-2021, Asturias will increase its GDP per capita by 1.7% per year, above the average for Spain, due to the demography
• The recovery of affiliation since 2013 is concentrated in the large urban area of Asturias, with high regional heterogeneity
• The economy of Asturias will create just over 3,000 jobs in the biennium ending in 2021, and the unemployment rate will decrease to 13.2%
• Positive signs in investment, despite the external and internal uncertainty, bias the scenario downwards

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