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La economía española en 2019

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  • Dirección General de Economía y Estadística

    (Banco de España)

Abstract

La economía española mantuvo un comportamiento expansivo en 2019, si bien su ritmo de crecimiento fue algo inferior al de 2018. Esta moderación fue resultado del menor dinamismo de la demanda interna, que contrarrestó el repunte de la contribución del sector exterior. La desaceleración de la demanda interna reflejó la evolución del consumo privado y de la inversión, mientras que la aportación de la demanda externa se explica por la ralentización de las importaciones y el avance algo mayor de las exportaciones. En línea con estos desarrollos, la creación de empleo aminoró su expansión. Con todo, la economía española presentó mayor resistencia al deterioro del entorno exterior que el área del euro, de manera que conservó un diferencial de crecimiento positivo. Por su parte, las presiones inflacionistas se mantuvieron contenidas, a pesar del ascenso de los costes laborales unitarios. En este contexto, la economía española presentaba a principios de 2020 una trayectoria de moderación gradual del ritmo de su crecimiento hacia su tasa potencial. Estas perspectivas económicas se han visto completamente alteradas por la crisis sanitaria global provocada por la pandemia del Covid-19, que afecta con virulencia a un número muy amplio de países, incluida España, e implica una disrupción muy severa de la actividad económica, cuya duración e intensidad está rodeada actualmente de una gran incertidumbre.

Suggested Citation

  • Dirección General de Economía y Estadística, 2020. "La economía española en 2019," Occasional Papers 2011, Banco de España.
    • Handle: RePEc:bde:opaper:2011
    as

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    References listed on IDEAS

    as
    1. Corinna Ghirelli & María Gil & Javier J. Pérez & Alberto Urtasun, 2021. "Measuring economic and economic policy uncertainty and their macroeconomic effects: the case of Spain," Empirical Economics, Springer, vol. 60(2), pages 869-892, February.
    2. Aitor Lacuesta & Mario Izquierdo & Sergio Puente, 2019. "An analysis of the impact of the rise in the national minimum wage in 2017 on the probability of job loss," Occasional Papers 1902, Banco de España.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    economía española; consumo; inversión; exportaciones; importaciones; déficit; precios; empleo;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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