Jump Main Menu. Go directly to the main content

Sección de idiomas

Englishen

Fin de la sección de idiomas

You are in:

  1. Home
  2. Communication
  3. News

News

Start of main content

José Ramón Díez, director of Bankia Estudios, during his speech at Bankia's first meeting with shareholders.

Corporate information

At Bankia’s first shareholder engagement meeting

José Ramón Díez: “The Spanish economy is growing faster than the European Union, although it is no longer benefiting from foreign trade”

The director of Bankia Estudios predicts that the Spanish economy will maintain the expansive tone, although with a decelerated profile.

Communication Bankia

By  Communication Bankia

Publish on 
02 July 2019 - 14:30

  • The director of Bankia Research informed shareholders in Valencia of the current global economic trends and the Spanish economy’s position
  • The Spanish economy will continue to grow, albeit at a slower rate

The director of Bankia Research, José Ramón Díez, said that “the Spanish economy is growing faster than the European Union average, although it is no longer benefiting from foreign trade”.

Díez explained at Bankia’s first shareholder engagement meeting in Valencia that “all the major economies will grow less this year than in 2018 and we are experiencing a global slowdown”. The US stands out for positive reasons compared to the other developed economies, as does Spain versus the EU.

The dispute between the US and China has heightened and now affects trade. In this respect, Díez noted that tensions between the two countries have considerably affected companies but not families. “Uncertainties concerning the scope and duration of the dispute dint confidence, discourage investments, and threaten value chains,” he added.

The director of the Research team explained that in the current economic climate, uncertainty and low inflation have prompted new stimulus measures and reminded the audience that the ECB still has tools at its disposal to relax monetary conditions.

Turning to the Spanish economy, Díez said that it continued to grow and stands out from the major European economies. “Even in the first quarter, GDP growth accelerated; despite the high degree of uncertainty, GDP forecasts have hardly changed”, he added.

Measures to stimulate domestic demand are also offsetting the decline in exports. Job creation and rising wages are driving up household incomes and tourism is recovering after a poor summer in 2018.

Nevertheless, the director of Bankia Research warned that rising salaries combined with a drop in productivity damages competitiveness, and that household saving is at a low.

Spain is in a more balanced position than in previous cycles, although it does have high levels of debt and unemployment. Looking ahead, Díez predicts that the Spanish economy will continue to grow, albeit at a slower rate.

Share

Print and/or download the new

Read more about these topics

#Shareholders

Related news

Newsletter

Subscription to the bulletin of Bankia News

CONTACT

External Communication Direction

Virginia Zafra de Llera
DIRECTOR OF EXTERNAL COMMUNICATION
vzafra@bankia.com

 

Press Relationship

Guillermo Fernández Martín
DIRECTOR OF PRESS RELATIONSHIP
gfernandezm@bankia.com

Mariano Utrilla Cortijo
mutrilla@bankia.com

Irene Rivas García
irivas@bankia.com

Belén Porras Povedano
bporras@bankia.com

María Campos Lages
mcamposla@bankia.com

María José Cabeza Calderón
jcabeza@bankia.com

 

Digital Communication

Ana Bernad Colás
DIRECTOR OF DIGITAL COMMUNICATION
abernad@bankia.com

Leticia Lucio Álvarez
llucio@bankia.com

María Navarro Caballero
mnavarro@bankia.com

   

End of main content