Economic Report
The Eurozone economy grew by 12.7% q/q in Q3. Despite the strong economic rebound, economic activity is still substantially lower than pre-crisis. Going forward, the second wave and new round of lockdowns across the Eurozone undermine the recovery.
Economic Comment
Spanje heeft het zwaar in de strijd tegen het coronavirus. Het land kampt met een gezondheidscrisis, een bestuurscrisis en een economische crisis. Wij ramen voor dit jaar een krimp van 13,3% en voor volgend jaar een groei van 5,3%.
Economic Report
After the major slump in the first half of the year, Spain’s economy partially recovered in the third quarter. Going forward, economic growth will be very weak until a vaccine is widely available. We forecast GDP to contract with 13.3% this year.
Economic Report Dutch version
Spain’s economy suffered a major blow in Q1 due to COVID-19. GDP contracted by 5.2%, much sharper than during the GFC. The outlook for Q2 is far worse. The path of recovery is clouded by a vulnerable sectoral composition and large demand fallout.
Economic Comment
The Eurozone economy grew by 0.1% in the final quarter of 2019. For 2020 we expect growth to remain lackluster. Domestic demand will slow as the business cycle has substantially advanced, whilst the external environment will remain weak.
Economic Report
The Spanish economy is losing momentum, but continues to grow faster than most Eurozone peers. Plans of the new left government might support growth in the short term, but jeopardize growth and social benefits in the medium term.
Economic Comment Dutch version
European trade commissioner Phil Hogan has concluded his visit to the US. The joint proposal to reform the WTO has been a major achievement but there has been little progress on US tariffs on European goods.
Economic Comment
Now that the phase one trade deal between the US and China has been signed, the US will shift its focus to the EU. US frustrations related to EU trade policy have been mounting recently. In addition, little progress has been made on US requests related to defense spending and the EU’s China policy.
Economic Comment
Spain’s elections failed to solve the deadlock in parliament. Scraping a majority will be extremely difficult. The stalemate will not send the economy into crisis, but it prevents the economy and public finances from being prepared for one.
Economic Report
Sunday’s elections in Spain are unlikely to break the deadlock in parliament. The economy will continue to grow relatively fast in the short term, but growth is slowing while unemployment is still high and public finances weak.
Economic Comment
The Eurozone economy grew with 0.2% in 19Q3. At first sight maybe little to cheer about, but given the trade tensions and ailing manufacturing sector, worth a minor celebration. Maybe more importantly, for now this is as good as it gets.
Economic Report Dutch version
Spain will hold early elections on 28 April. The short-term economic impact will be limited, but public finances will be worse off in 2019. The longer-term impact is difficult to assess based on current polls, but it could well be positive.
