Spain’s Economy Expected to Grow between 3.1% and 3.5% in 2007

According to Price Waterhouse Coopers’ Economic Consensus for first quarter of 2007 Spain’s economy will grow between 3.1% and 3.5% this year. That opinion is shared by 60% of the professionals surveyed.

However, the experts expect a slow down in the next 3 years with regards to the course of international economy. Half of the 346 professionals surveyed expect inflation to be between 2.6% and 3% in December of this year, while 35% believe that it will be below 2,5%.

The Economic Consensus also says that 63% of Spanish businesses will keep prices stable in 2007, as opposed to 34% that will raise prices due to an increase in costs. According to the experts, the industries in Spain with the highest projected growth rate are information technologies, finance, machinery and tourism. Nevertheless, 75% see a decline in construction, 41% in machinery and 33% in commerce.

The forecast for business is optimistic, since most of the experts see the situation improving in the next few months. They also believe that the current rate of new jobs, investments and exports will remain the same.

Source: Link