Bank of Spain revises GDP growth upwards to 1.9% for the year. A dynamism that contrasts with the weakness of the eurozone, which will grow by only 0.6% in 2024.
There are three main reasons for the upward correction: a driving effect of the acceleration recorded in the last quarter of 2023; lower energy costs with a significant decrease in electricity costs in February and early March; the more gradual withdrawal of the anti-inflation shield measures than announced. Compared to inflation, the monetary authority revised those for December downwards, up to 2.7%.