The Funcas panel lowers its GDP forecast by one tenth for 2019, to 2.2% By EFE

Madrid, Sep 16 (.) .- The consensus of analysts that make up the Funcas panel has lowered a tenth of its forecast of economic growth for this year to 2.2%, just like the Government's estimate.

As reported by the Foundation of Savings Banks (Funcas) in a statement sent on Monday, this reduction is due to the lower expected contribution of the national demand -2.1 points, 0.2 points less – given the worse consumption prospects private and public, as well as investment.

On the other hand, the expected contribution of the external demand rises by one tenth, which was void in the last report.

By 2020, the panel maintains the GDP growth forecast at 1.9%, although they expect the quarter-on-quarter 0.4% slowdown to begin in the second quarter instead of in the third, as calculated so far.

Experts believe that the average annual unemployment rate will drop to 13.9% this year and 12.8% next year and that inflation will stand at an average of 0.8% in 2019. The deficit forecast remains at 2.3% for this year and 1.9% for 2020.

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