The Gross Domestic Product (GDP) of Spain, in it third quarter of the year 2021, has experienced quarter-on-quarter growth in 2% in terms of volume (adjusted data), while the year-on-year variation has been 2.7%, significantly below expectations, due to the impact of energy and raw material prices. In reference to the Canary Islands, the GDP in the second quarter of 2021, registers a quarter-on-quarter growth of approximately 4% (3.94%)U!in real terms (in front of decline of 0.50% from the first quarter), with the variation being 26.52% compared to the first quarter of 2021.
KEYS
This scenario described, without a doubt, allows be more optimistic about the beginning of the economic recovery, despite the fact that the pandemic remains latent. However, both the country and the autonomous community still have strong weaknesses. Given this, it is done It is essential to maintain incentives for companies, in order for them to acquire the financial muscle necessary to remain in the market and, subsequently, gradually reduce them until their total elimination.
FORECASTS
For 2021, in Spain, after having experienced year-on-year growth in the third quarter of 2021 of 2.7% (+2% quarter-on-quarter), the end of the year would be between 5.1% and 5.7%.
In this sense, for the Canary Islands, the GDP increase forecasts for 2021 We continue to predict that they will be located around a range between 5 and 6 percent, except in an unusual recovery situation due to the incorporation of variables not included until now, given that depends on the vaccination rate, economic structure affected along with the evolution of pandemic control internationally.
REPORT
For more information, access the full report here: CORPORATION 5 Situation Report 3Q2021_291021U!
