CORRECTED-MNI BRIEF: Banks Of Spain Ups Spanish Growth
(Corrects inflation projection for 2024 in second paragraph)
The Bank of Spain raised the country’s growth outlook for 2024 to 2.8% (0.5 points more than in June) and to 2.2% in 2025 (0.3 points more) in its economic projections published on Tuesday.
The BoS also slightly revised down its projection for inflation this year to 2.9%, but raised next year's by one tenth to 2.1%. It kept it unchanged for 2026 at 1.8%.
Risks are tilted to the downside for growth, but balanced for inflation, the national bank said. The main source of risk for prices is the international economy and the possibility of sharp corrections by financial assets in such as those seen in August. Regarding services inflation, the bank noted that the most recent data alleviated upside risks. (See MNI SOURCES: ECB Neutral Debate Heats Up As Growth Weak)