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Tourism and the engine will pull the economy over the next five years

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PwC joins optimism

78% of the 370 experts who make up the PwC panel qualify as “good” the conjunctural moment of the Spanish economy. This figure is 10 points higher than the previous quarter. In fact, 1% do not say that activity could worsen in the next quarter.

This optimism – which leads experts to bring GDP growth at 2.7% this year and 2.5% in 2018 – is based, among other things, on their upward projections of the evolution of household spending . 47% of panelists – three more points than the previous quarter – say household consumption will continue to grow. It also rose five points, to 55.2% of respondents, who believe that demand for housing will increase in the next six months. And almost 67% are those who believe in an acceleration of the rate of job creation and, in a similar percentage, those that assign an identical good evolution of exports and productive investment. On the more negative side, 62% believe that inflation will grow slightly in the coming months.

In general terms, the good prospects of this report are also based on the good financial situation of the companies, according to 75% of the respondents, compared to 50% who said it a year ago. Then the good prospects of the foreign markets (in the opinion of 69%), discarding the negative effects of the brexit and the protectionist threats of Donald Trump.

Raquel Pascual Cortés – CINCO DIAS – Madrid 3 MAY 2017  (Translation Softt)

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