BBVA Research estimates that Castilla y León would have been one of the few communities to recover pre-pandemic GDP per capita in 2022.
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- Spain
- Castile and Leon
- Topic Tags
- Regional Analysis Spain
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BBVA Research estimates that Castilla y León would have been one of the few communities to recover pre-pandemic GDP per capita in 2022.
GDP grew 7.5% in 2022, driven by domestic demand, especially services consumption and machinery investment. In the fourth quarter, the economy grew 2.9% annually, confirming the slowdown that was anticipated and will continue this year. BBVA Research estimates growth of 0.7% for 2023.
More than a year and a half after the implementation of the Recovery, Transformation and Resilience Plan (PRTR), the excitement is turning into disappointment, as there is a perception that the funds are failing to reach households and business…
During the third quarter, the Colombian economy grew 7.0% YoY. Domestic demand continued to lead GDP dynamics, with a significant acceleration in fixed investment that offset the moderation of the expansionary cycle of final consumption. We exp…
Purchases of machinery and equipment, excluding transport, have performed well during the recovery period. The import analysis indicates an acceleration in the transition towards a productive and green energy-intensive model, together with a pr…
A specific tax on banks leads to an equilibrium with less credit and a higher cost, lower growth in activity and employment, and lower revenues than initially expected.
Madrid's GDP grew by 5,0% in 2021. But the war in Ukraine and sanctions reduce growth expectations. Thus, Madrid GDP is expected to increase by 4,3% in 2022 and 2,6 in 2023%. By the end of 2023, GDP could recover the level of 2019.
The Spanish economy has been in turmoil for a couple of years now. Despite this, investment has already recovered to the levels of the 4Q2019 and even the purchase of machinery and equipment is 17% more than that observed more than two years ag…
Despite the expectations created at the end of 2020, the Plan's impact on the National Accounts was slow in 2021 — though this is expected to accelerate in 2022 and 2023. The challenge now is to invest wisely in projects which will drive and tr…
Home sales have been rallying since the second half of 2020, yet supply is barely growing. If the factors behind the sector’s sluggish recovery are not promptly addressed, the resulting pressure will push prices even higher.
In the first quarter, GDP grew 8.5% year-over-year and 1% quarter-over-quarter. Consumption remained a good dynamic driven by spending on durable and semi-durable goods and the services sector. Investment, which performed well, was driven by the purchase of machinery and the advance of intellectual property.
GDP growth in Castile and Leon could slow to 2.9% in 2022 and 2.1% in 2023. The impact of the invasion of Ukraine, the sanctions imposed on Russia and the increase in prices of raw materials and, above all, fuels, are weighing more heavily on growth in the more industrially-oriented regions.