Economic Forecasts | Sectors that will lead Valencian society in 2024

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Economic Forecasts |  Sectors that will lead Valencian society in 2024

The Valencian economy could grow by 2.5% in 2024, exceeding expectationsDaniel Tortajada

The Valencian employers’ association CEV assures that the recessionary situation is “disappearing”, especially due to the pull of industry and services. The economy of the Valencian Community has grown beyond expectations, consolidating three consecutive quarters of acceleration. According to estimates Independent Authority for Fiscal Responsibility (AIREF), Economy of society It advanced 1.0% at a quarterly rate and 2.6% at an annualized rate in the first quarter of 2024.Spain’s economy is growing faster than the rest and contrasts with the general recession that still prevails in the EU’s major economies.

It is thus collected Situation report and economic perspectives In the first quarter of 2024 Commercial Confederation of the Valencian Community (CEV) Also, if the data is confirmed, it means that the Valencian economy will grow at an annual rate of 3.8%. This travel speed, The leading agency assures that most businesses report and recognize macroeconomic records, along with favorable future prospects, “in the short term they present a growth path that moves away from recessionary conditions.” Salvador Navarro.

“The economy will continue to grow with vigor in the coming quarters and could achieve a total growth of around 2.5% for the full year. This growth will allow employment generation to continue. The gap in per capita income should be narrowed Autonomy maintains Spain’s average,” the CEV report highlights.

By functional departments

Be that as it may, the evolution of GDP is not uniform across all measures. Primary Department, Immersed in a complex structural situationContinues in a difficult situation, which consolidates the decline in production High operating costs and unfair competition in imports.

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The profession, on the contrary, showed a significant improvement in the first quarter, thanks to the improvement of some manufacturing branches. Especially noteworthy Re-manufacturing in the tile industry, however, as indicated by the department, this may be temporary and not accompanied by an increase in orders, sales and exports. In the opposite direction, the fall in transport material production and The situation in the auto sector is worrisome – especially after the end of production of the Ford Transit Connect and ERE provision to 1,622 workers – due to its economic, social and labor importance and its geographical concentration. However, as negotiated by the board and management, this ERE figure may be reduced by one thousand Ford.

Meanwhile, the Construction The first quarter has shown a decline in both auction and executive visas, unlike the trajectory shown nationally.

Career development.

On the contrary, the Service Department It has shown a positive trajectory, with more dynamism than the national average, albeit with uneven evolution between its different branches. Related activities Information and communication, as well as transportation and storage, registered significant improvements. On the contrary, the Trade It registered a slight decline in the quarterly rate, but an acceptable improvement in the annual rate.

Postiguet beach in Alicante, pictured recently.

The route shown Tourism activity Coordinating the firm recovery of the sector. To a large extent, this improvement is based on the increased activity of foreign tourists. In the first quarter, no Foreign touristscount Hotel beds And total spending by international tourists in the community exceeded 2019 levels.

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Perspectives

Looking ahead, a slight improvement in investment is expected on the demand side in the coming quarters, a Stability of private consumption and low contribution of public consumption. “Within costs, the increase Salary expenses and compulsory social security contributions, An increase in direct and indirect costs – a decrease in disagreement working day “Without wage cuts, they could mean new setbacks for companies,” CEV warns. According to it, this will affect SMEs and micro-enterprises, in terms of costs and productivity, as well as the recovery of internal organization and margins.

Evolution of vehicle registration.

Social conversation

Likewise, the CEV Appeals to “respect”. Social conversation In all its subjects, as well as plays a role Economic and social systems “Furthermore, CEV is committed to the support of all public institutions for the automobile cluster, hoping to find a solution to the situation it is going through. Similarly, the organization leads Salvador Navarro This calls for decisive support to the primary sector and speed in procedures.

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