Spain | An unequal recovery for businesses

Summary

Despite the robust measures implemented by the ECB, the EU, the Spanish government and public authorities, as well as the credit boost of the banking system, which have all prevented a much worse scenario, several quarters of growth will be needed for activity to catch up to the levels at the end of 2019.

Key points

• Key points:
• The recovery is slower and more gradual than the rapid collapse of production and is also uneven across sectors and firms.
• Some activities have fully recovered and benefited from changes in consumption patterns or safety measures.
• Specialization, size, financial resources, level of debt, resilience or management capacity make the crisis have very different effects among firms.

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