Inertia won't be enough

Summary

The Spanish economy is showing enviable resistance in the face of an internal and external environment surrounded by uncertainty. When GDP data is published for the second quarter, it is highly likely that growth will have remained between 2% and 3% year-on-year.

Key points

• Key points:
• That is no small feat, given that the economy of our main trading partners is only growing at around 1%.
• The question is whether this can be sustained going forward. The answer, if current conditions persist, is probably not.

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