Barclays estimates that Spanish GDP will fall by 0.5% in 2023

MADRID, 15 Sep. (EUROPA PRESS) -

The British bank Barclays forecasts that the Gross Domestic Product (GDP) of Spain will register a negative growth of 0.5% in 2023, after growing 4.5% this year.

The entity highlights in its outlook report that it has decided to lower its expectations for Spain by 1.6 percentage points, less than in the case of other countries such as Germany, where the cut reaches 2.3 points.

However, it specifies that the uncertainty surrounding these forecasts is high in both directions, depending on the evolution of the conflict between Russia and Ukraine and the European response to these tensions.

Regarding prices, Barclays expects inflation to relax for next year: it will close 2022 with a rise of 8.7%, which will go to 5.4% in 2023.

Both the German and Italian economies are much more dependent on Russian gas supplies than others such as France and Spain, which will also penalize them next year, the report explains.

Thus, Germany will have a more complicated 2023 and will register a negative growth of 1.5% after growing a slight 1.4% this year, with inflation of 8.3% in 2022 and 6.7% the following year. The drop in Italy's GDP, for its part, will be 1.4% in 2023.

The United States will manage to close the year with growth of 1.6% and next year with 0.2%, with inflation of 7.9% and 3.1%, respectively.