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Macro - Country Economic Forecasts - Spain

Publisher Oxford Economics
Published Feb 10, 2026
Length 9 Pages
SKU # OFE20872793

Description

Our 2026 growth forecast for Spain remains unchanged at 2.6% this month, as Q4 GDP came in line with our expectations. We expect Spain to be the fastest-growing major economy in the Eurozone again this year. The country continues to benefit from strong growth in services and employment, lower electricity costs for industrial users, and being more insulated from global trade tensions than most of its peers. But some of the cyclical tailwinds boosting growth are likely to ease, which means activity should gradually slow. We expect GDP growth in 2027 to moderate to 2.1%.

Table of Contents

9 Pages
Spain: Outlook stable as growth matches our expectations
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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