The Basque economy report prepared by this entity concludes that it is necessary to “distinguish between the industrial sector, which shows weakness, and the services sector, which shows a remarkable level of activity”.
Laboral Kutxa predicts that 2023 will end with a growth rate of 2% across Spain, a figure that will rise to 1.7% in the Basque Autonomous Community (CAV) and the 1.5% in Navarreaccording to the Basque economy report prepared by the study department of this entity.
The document, released this Thursday, admits that these numbers are representative a “significant” upward revision compared to those offered last December.
The new forecasts take into account that the economy will “remain relatively strong” in the months so far of 2023, despite the need to “distinguish between the industrial sectorin which it is valued weaknessand that of the services, which shows a remarkable degree of activity”.
About exercising 2022reminds the document that it was “a year marked by the beginning of the war between Ukraine and Russia”, with the inflation as “protagonist”.
About the behavior of the GDPreminds the text that there was an increase in the CAV last year 4.4%in line with the increases in both Navarre (4.3%) and the State (5.5%).
The document also reminds that the unemployment rate stood in the 8.6% in Euskadi, with a decrease of 1.2 points compared to 2021, an index that in Navarre 9.6% (-1%) and in Spain 12.9% (-1.9%).
Source: EITB
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