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null The Spanish Economy Gathers Momentum. Ten Reasons Why It Will Grow above Major Western Economies

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The Spanish Economy Gathers Momentum. Ten Reasons Why It Will Grow above Major Western Economies
05 Apr 2019
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Clock 45 mins.
CATEGORIES: AER Premium Spain Global Macro Global Macro Spain
ANALYSTS:
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Ignacio de la Torre
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Leopoldo Torralba
"The Spanish economy slowed down in mid-2018. Growth rates went down from over 3% to slightly below 2.5%. Moreover, news about world growth has been dismal since then, with the three main economies (USA, China, and the Eurozone) experiencing intense corrections. Against this global backdrop, compounded by Spanish political uncertainty, it is not surprising that voices are warning that Spanish economic growth could be in jeopardy and a sharp slowdown, brewing. In our opinion, available data refutes this statement. The Spanish economy is accelerating, not slowing down. This chartbook explains the reason for the abovementioned acceleration and defends our ‘decoupling’ thesis: that Spain is outperforming in the midst of a weak global growth environment. The chartbook is based on the in-depth analysis we have been making of the Spanish economy since 2012, whose sustainable evolution contrasts with that of other economies around the world. Our conclusion is that, of all the major Western economies, Spain will experience the greatest growth in 2019. As we often state, we analyse growth, but also the associated risks to conclude that Spain will continue to be a favourite destination for investment."

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