banner ad
blog post banner

Strong recovery expected for Spanish construction industry in 2021

February 2021

Strong recovery expected for Spanish construction industry in 2021 with 7.4% expansion, says GlobalData

Following the release of data from the Spanish National Statistics Institute (INE) showing a sharp fall in construction output in 2020; Moustafa Ali, Economist at GlobalData, a leading data and analytics company, offers his view on the outlook for the Spanish construction industry:  “Spanish construction output fell sharply in 2020, recording a contraction of 18.2% in Q4 2020.  The lockdown measures imposed by the government in November and the subsequent weakening in economic conditions severely hampered output in the country’s construction industry in Q4 2020. However, GlobalData expects a strong recovery in 2021, with an expansion of 7.4% expected this year.’

“The industry will be supported by a combination of increased government spending on infrastructure projects.  Moreover, a successful vaccine rollout programme will speed up the easing of travel restrictions and an increase in tourism flows, which will support the commercial sector.”

However, downside risks remain as the Spanish economy was deeply scarred by the virus outbreak, with real GDP contracting by 9.1% in 2020.  Although the easing of the lockdown measures and recovery in economic activity may be hampered by the slow vaccine rollout programme across the EU, the baseline scenario remains positive, with fiscal and monetary support driving the recovery in 2021.”

 

Long-term regional inequalities must end if England is to build back better

Targeted action to boost skills, develop physical and digital infrastructure and attract fresh investment will be vital if all parts...

Continue Reading

Bathroom Takeaway set to invest in UK market

Online bathroom retailer Bathroom Takeaway is set to invest £1.35 million in its UK business with a focus on growing...

Continue Reading

Blizzard Vitrified selects MS-Drytech prep plant

Blizzard Vitrified, a recently-formed ceramic company based in Morbi, India, has commissioned Manfredini & Schianchi to supply an MS-Drytech dry...

Continue Reading