The crisis will result in the loss of 300.000 jobs in 2020 if it only lasts one month

The containment of activity could stagnate the Spanish economy

CEPYME, in collaboration with CEPREDE, has made a first estimate of the impact that would arise from the paralysis of household consumption as a result of the restrictions imposed by the state of alarm.

La Spanish economy in general and SMEs In particular, they are facing a problem derived from the health crisis unleashed by the coronavirus and whose final effects are very uncertain, with no official statistics yet available that reflect the effects that, without a doubt, are being generated on employment.

In this environment of uncertainty, it is only possible to try to approximate the possible effects that this situation may generate on our economic system by making reasonable hypotheses about the duration and possible relative impact on the different branches of activity.

In this line, CEPYME, In collaboration with CEPREDE, has made a first estimate of the impact that would arise from the paralysis of household consumption as a result of the restrictions imposed by the state of alarm.

The final effect of the crisis will logically depend on the prolongation of this situation over time, although considering an initial duration of four weeks, it could generate a direct impact of around 0,9% of GDP, which would rise to 1,7%. % by including the indirect and induced effects on the entire economic system.

The containment of the activity during the aforementioned four-week period would intensely affect the employment and in 2020 as a whole it would practically lead to stagnation of the Spanish economy and could lead to the loss of some 300.000 jobs this year.

To these impacts derived from the containment of private consumption, we should add the possible paralysis of investment processes, as a consequence of greater uncertainty, together with the fall in exports, induced by the reduction in activity worldwide and the possible effects of the sharp falls recorded in the financial markets.

Other news of interest

The new European packaging regulations redefine the concept of 'producer' and require companies to review their obligations

Read the news →

Maersk raises its profit forecast and exposes structural strain on supply chains

Read the news →

Óscar Puente oversees the final stages of construction on the new intermodal station in Almería, a key infrastructure project for high-speed rail.

Read the news →

The crisis will mean the loss of 300.000 jobs in 2020 if it only lasts one month

The containment of activity could stagnate the Spanish economy

Any questions about this news?

International business service providers

Moldtrans

FedEx Express

AROLA

Pantoja Logistics Group

DHL Express

Other news of interest

The new European packaging regulations redefine the concept of 'producer' and require companies to review their obligations

Maersk raises its profit forecast and exposes structural strain on supply chains

Óscar Puente oversees the final stages of construction on the new intermodal station in Almería, a key infrastructure project for high-speed rail.

The containment of activity could stagnate the Spanish economy

Any questions about this news?

International business service providers

Moldtrans

FedEx Express

AROLA

Pantoja Logistics Group

DHL Express

Other news of interest

The new European packaging regulations redefine the concept of 'producer' and require companies to review their obligations

Maersk raises its profit forecast and exposes structural strain on supply chains

Óscar Puente oversees the final stages of construction on the new intermodal station in Almería, a key infrastructure project for high-speed rail.

Coexia®