A director of the INE forecasts that the GDP for the third quarter will be “around zero”

“In the third quarter, which we are going to give in a few days, we will be with a growth or decrease… around 0″, said the general director of the INESources from the INE have clarified that they refer to the estimates that have analysts have made and they do not correspond to the data that Statistics will publish on October 28. The expert has preferred not to venture into any forecast for the fourth quarter, although he has recognized that analysts point out that the GDP will contract”We had good growth in the second quarter (1.5%) and surely in the third quarter, which we are going to do in a few days, we will be with a growth or decrease… around 0. We are going to be a little higher, a little lower”, explained during the V Economic Insurance Meeting 2022, organized by Mutualidad de la Abogacía. INE sources have clarified that these statements by the director –whose work is not directly related to GDP calculations– refer to the estimates that different analysts have made and do not correspond to the data that Statistics will publish next Friday, October 28, in which they are still working from the agency and it is not yet closed. In a context of high uncertainty, the expert has preferred not to venture to advance any forecast for the fourth quarter of the year, although he has recognized that most analysts point to the GDP contracting. What is clear, according to Alfredo Cristóbal, is that the economic growth of the year that coming is going to be “in much smaller terms than this year”. And it is that, surely, in 2022 the GDP will end up around 4.5%, as reflected by most of the forecasts of national and international organizations, but next year the growth will be between 1% and 2 %. Fall in inflation with “saw teeth” Regarding inflation, Cristóbal has anticipated that the rate will continue to fall, “although it will have its saw teeth”, and “much lower levels will be reached, although not those registered before This decrease is due, in his opinion, to the effect of the cost containment that is being carried out and the increases in interest rates.However, the general director of Statistical Products of the INE has warned that inflation It will take “much longer” for the underlying stock to come down, requiring additional efforts.”The less good news is that the amount of shock that has occurred has caused second-round effects.”