Low wages prevent greater GDP growth, according to AFI

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International Financial Analysts  (Afi)  estimate that the GDP of the Spanish economy will grow 2.8% in 2018, three tenths less than in 2017, and that the unemployment rate will close the year at around 14% of the active population.

The slight slowdown in growth towards rates more in line with the Email Data potential GDP of the Spanish economy does not call into question the robustness of the current economic cycle.

Afi  expects a strengthening of investment, stimulated by the improvement of the global environment, financial conditions and improvement in business confidence. Private consumption could grow to 2% in 2018, compared to 2.4% in 2017 and 3% in 2015.  Afi  attributes this slowdown to the evolution of the wage bill which, despite the strong growth in employment, shows the impact of the erosion of the real average salary.




The reactivation of growth in the euro area and in other developed countries will allow the foreign sector to maintain its positive contribution to growth, of about 0.6 points of GDP.

Afi  estimates an annual average CPI growth of 1.8%, with a maximum of 2.2% in the central months of 2018, and an increase in the underlying CPI of 1.2%.