S&P has reduced its estimate of GDP for the euro area by 5 tenths in 2019 from +1.6% in November to +1.1%. In 2020 it forecasts a growth of +1.4% (vs. +1.6% previous), +1.4% also in 2021 (vs +1.5% previous) and +1.3% in 2022.
In the case of Spain, growth is expected to expand by only one tenth in 2019 to +2.1%, and the country will continue to lead the eurozone. The rating agency expects that external demand will continue to deteriorate, with the consequent worse behavior of the German and Italian economies. For Germany it forecasts a growth of + 0.5% in 2019 (vs + 1.6% in November) and for Italy of + 0.1% (vs. previous + 0.7%)
