Spain | Cantabria Economic Outlook 2020

Summary

The economy of Cantabria may shrink by 10.2% this year, and grow 5.8% in 2021, losing 4,000 jobs between the end of 2019 and 2021. The impact of the crisis was heterogeneous by sectors, counties and personal characteristics. Public policies allow to lower job losses, but risks push the perspectives downward.

Key points

• Key points:
• By the end of 2021, the GDP of Cantabria may be 5.0% below its 2019 level
• The lower proportion of social consumpltion makes the household´s expense not to be as affected as in Spain
• Heterogeneous impact across urban areas, personal characteristics and sectors
• Broad consensus is needed to put in place much needed public policies
• The main uncertainty is related to the control of the pandemy.

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