Regarding the evolution of GDP during the next three months, more than 70% believe that it will be the same or better. If they are asked for a forecast for a year from now, this percentage of optimists rises to 75%.
Fte: “Economic and Business Consensus” Study, by PwC.
In fact, experts, businessmen and managers improve by three tenths - from 1.1% to 1.4% - their growth forecast for the Spanish economy in 2023. By 2024 they expect activity to stand at 2.1%.
This is reflected in the study "Economic and Business Consensus", the consulting firm's quarterly economic situation report that questions more than 450 professionals, of which around 60% are managers of the country's main companies.
How will the company go?
Focusing on how professionals perceive the situation of companies in the Phone Number Data coming months, 70% of those surveyed perceived the situation at the end of 2022 with concern. That percentage, however, has fallen drastically to 21% during the first quarter of the year, showing clear confidence in the future of businessmen. For the majority, the situation will continue as it has to date, with 9% confident that it will improve.
Fte: “Economic and Business Consensus” Study, by PwC.
The good forecasts for the coming months are based on the good export data, which increased by 16.2% in January and reached 30,921 million euros and a historical maximum in the first month of the year. So much so, that 90% of those surveyed expect the export situation to be just as good next quarter and the same with competitiveness.
Regarding job creation, the position is divided mainly at the expense of labor reform. Just over half of the panelists, 56%, believe that employment will remain the same or better and the rest highlight a decrease in hiring.
And inflation?
One of the aspects that most worries business owners is inflation , which during the first two months of the year has remained around 6%, with the underlying inflation at 7.6%. However, by the middle of this year, the majority of those questioned by the consulting firm believe that it will have dropped two points, to 4%. The positions do not vary much more towards the end of the year.
Fte: "Economic and Business Consensus" Study, by PwC. When faced with this problem, the majority of respondents - 60% - respond that they will increase their pricing policy. However, contrary to what one might expect, this price increase is not due to wage costs, but rather the increase in energy and transportation bills that has forced companies to take these measures.
Challenges ahead
However, looking ahead, some important challenges remain, such as the high unemployment rate, public and private debt, and high trade deficit. In addition, political uncertainty, the evolution of the war in Ukraine and the fear of contagion from the collapse of banks such as Silicon Valley Bank (SVB) , could affect economic growth in the future.
In any case, the Spanish Government has assured the strength of Spanish banking, and is confident in the promotion of various measures to boost growth and job creation, including investments in infrastructure, business support measures and fiscal stimulus policies. .
If properly implemented, these measures could help further strengthen the Spanish economy and maintain the path of growth.