Should the model prove accurate, the pace of GDP growth would stand slightly below the 1Q 2019 figure (0.7% qoq).
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Inflation was down 0.4 pp in June to 0.4%, intensifying the easing that began last month.
The budget execution figures available for 1Q 2019 indicate public sector accounts standing in a very similar position in Social Security to a year previously.
The labour market posted a record high affiliate number in June, reaching a total of 19.5 million, just outstripping the previous record of July 2007.
Inflation stood at 0.4% in June, matching the flash figure from the National Statistics Institute released on 27 June.
- The uncertainty surrounding the forecast scenario remains unusually high, both in Spain and the rest of the world, due to unknowns regarding the future evolution of COVID-19 as well as doubts concerning the effectiveness of the measures being taken.
Oriol Aspachs (CaixaBank Research), Ruben Durante (ICREA-UPF, IPEG y Barcelona GSE), Alberto Graziano (CaixaBank Research), Josep Mestres (CaixaBank Research), Jose G. Montalvo (UPF, IPEG y Barcelona GSE) y Marta Reynal-Querol (ICREA-UPF, IPEG y Barcelona GSE).