Table of Contents:
Revisiting economic forecasts
The Bank of Spain recently updated its economic growth forecasts for 2024, bringing GDP estimates to 3.1%. This change comes against a background of significant challenges, including the floods that hit the south-east of the country on October 29. Despite these difficulties, the institution has shown optimism about the economic recovery
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Growth supported by consumption and exports
In the third quarter, the Spanish economy grew by 0.8%, mainly thanks to household consumption and an increase in exports.
Forecasts for the fourth quarter indicate growth of between 0.6% and 0.7%, slightly below initial expectations. The Bank of Spain highlighted the uncertainty related to the impact of the recent floods, estimating a possible loss of 0.2 percentage points of GDP
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Future Prospects and Economic Stability
Looking to the future, the forecasts for 2025 have been raised to 2.5%, an increase of 0.3 percentage points compared to previous estimates. For 2026, stable growth is expected at 1.9%, while in 2027 a slight slowdown is expected, with an expected growth of 1.7%. These data suggest a sustainable economic recovery, despite current challenges.
Impact of retail sales in the United States
In a global context, it is interesting to note that in November, retail sales in the United States increased by 0.7%, exceeding analysts’ expectations. This increase brought the total to 724.6 billion dollars, an increase of 3.8% compared to the previous year. Excluding vehicle sales, the growth was 0.2%, signaling a recovery in consumption even in a foreign market
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Strategic collaborations in the telecommunications sector
In other news, Fincantieri and Sparkle are collaborating to analyze the requirements necessary to improve the security of subsea telecommunications infrastructures. This initiative includes two subsea cable connections to connect offshore wind farms to the continental electricity grid in France. Such projects are essential to ensure a safe and sustainable energy transition.
Acquisitions in the beverage sector
Finally, the European Commission has approved the acquisition of Britvic by Carlsberg, concluding that the transaction does not raise competition problems. This strategic move in the soft drinks sector may have a limited impact on the markets in which both companies operate, but it represents a significant step towards greater consolidation
in the sector.
