forecast

A new study by the Catalan savings bank corrects and improves the previous economic forecast. It is now believed that in 2011, Catalonia will grow at a 1.1% annual rate, and at 1.6% in 2012. However, without the public sector budget cuts, the Catalan economy will grow at 2% this 2011. The export sector has reached historical maximums, and will lead economic growth. However, economic growth in 2011 will not be translated into an improvement in employment.

The last monthly report by La Caixa, the main Catalan financial institution, also stresses that the currency war should end in order to avoid a protectionism escalation. It foresees a Spanish GDP growth of 0.7% for 2011.