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Spain country risk report Q1 2023 : includes 10-year forecasts to 2031

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      <subfield code="a">Spain country risk report Q1 2023</subfield>
      <subfield code="b">: includes 10-year forecasts to 2031</subfield>
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      <subfield code="a">We continue to forecast that Spanish real GDP will increase by 4.5% this year, though we now anticipate only marginal growth of 0.2% in 2023 versus 0.5% previously. The Spanish economy eked out a marginal expansion of 0.2% q-o-q in Q322, driven by strength in domestic demand. Survey data suggest that activity weakened toward the end of the quarter, however, boding poorly for growth in Q422 and beyond. We expect that a weaker outlook for the tourism sector as much of Europe enters recession, persistent cost of living issues and tighter financial conditions will ultimately act to constrain activity through 2023</subfield>
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