The growth of the Spanish economy is revised downwards to 1.9% in 2019 and 1.6% in 2020, due to the historical revision of the activity data, the negative trend of some demand components and the deterioration of the international context
The economy of Castilla-La Mancha grew 2.8% in 2018, and will moderate its dynamism to grow 2.3% in 2019 and 2.1% in 2020. It will create 44,000 new jobs during that time, in spite of the many risks that remain, some of them being now more likely to materialize. Total employment will be 1.0 pp below its pre-crisis level
The net profit of the system in the 1Q'19 was EUR 3.2 Bn. The key factors were weak revenues, cost control, and lower provisions. Deleveraging has continued, although since the end of 2018 there has been a slight upturn in total lending. The NPL ratio continues to fall and profitability has improved compared to 1Q'18.