90% of experts say that the economy will improve or stay the same in the coming months, according to PwC

MADRID, 25 Jun.

90% of experts say that the economy will improve or stay the same in the coming months, according to PwC


The sustained behavior of exports and investment continues to fuel the optimism of experts for the second consecutive semester, who improve the Spanish economic prospects for 2023, according to a PwC report.

In fact, the panelists who rate the current situation of the Spanish economy as good have increased by more than 30 points, up to 50.5%, and more than 90% assure that the situation will be the same or better in the next quarter.

In addition, 47% of those surveyed believe that activity will increase between now and next year, while 30% suggest that it will remain the same.

In terms of growth, the average opinion of those surveyed translates into a GDP growth forecast of 1.9% for 2023 (five tenths more than in the last survey) and 2% for 2024.

From PwC they have concluded that the experts do not expect an immediate economic decline due to the rise in rates. This optimism is partly due to the good financial situation of the companies, which will remain unchanged in the coming months, according to 73% of the experts.

Regarding exports, 90% of the panelists expect them to increase or remain stable in the next six months, while for productive investment, this opinion is endorsed by more than 80%.

Instead, families are going through a less optimistic moment. In fact, only 22% of those interviewed believe that they are in a good situation and the majority (74%) expect it to remain the same for the next quarter.

Hence, the PwC data indicates that the demand for housing will continue to fall in the next six months (this is confirmed by 67% of those surveyed). However, it seems that consumption will hold up better, as supported by 59.8% of those surveyed.

As for inflation, experts estimate that, by the end of 2023, it will be around 3.3%, and, by June 2024, at 2.9%.

PwC has also asked experts about the main economic challenges of the Spanish presidency of the EU. The first conclusion (supported by 80%) is that those surveyed "consider a priority" that the EU countries close a final agreement on the Stability and Growth Pact proposed by the European Commission.

When asked about the policies that must be vital for the EU, investment in digital infrastructures is seen as the most urgent (76.5%), followed by security and defense (45.1%).

Other relevant aspects for experts and members of the business world are those dealt with during the Spanish presidency. Specifically, 64.7% say that it is a priority to reach an agreement on immigration policies, and 51.5% consider the same regarding the regulation of the price of the electricity market.

In addition, 92% of those surveyed partially or totally agree that the Spanish leadership of the EU should be valid so that the country assumes a leading role in reactivating relations with Latin America and ratifying the agreement with Mercosur.

Regarding EU relations, China emerges as a favorite ally for 66.7% of the experts, above those who prefer the United States (56.9%) and India, which ranks third.

On the other hand, the country that provokes the least support (30.4% of the answers that consider it a high priority) is the United Kingdom. This opinion could be caused by the commercial and labor market difficulties that Brexit has generated.