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• We have revised up our 2024 GDP forecast for the Spanish economy as private consumption is likely to perform somewhat better than we had anticipated in 2024 and our outlook on Spain’s industry has improved. We now expect the Spanish economy to expand by 2.2% in 2024 (previously 1.5%) after 2.5% growth in 2023.
• We remain of the view that

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• Access to cell therapies will improve across emerging markets following the approval and market launch of the first India-produced CAR-T cell therapy.
• Aging populations and low health expenditure will continue to drive demand for lower-cost cancer therapies.
• Growing demand for cancer care in India will put pressure on the government to grow

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• We expect that Pakistan’s wheat harvest in the 2024/25 (May-April) season, that began at the start of April and is due to be completed in mid-June, will amount to a record 28.8mn tonnes, in line with USDA estimates. In tandem with a projected domestic wheat consumption growth rate of 1.5% y-o-y in the same season, Pakistan’s wheat

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• The safety of medical devices will improve following the FDA’s 2024 Center for Devices and Radiological Health (CDRH) Safety Report. 
• Respiratory and cardiovascular devices will continue to be the most common Class I recalled products.
• Medical device recalls will have a limited impact to medical device manufacturers in the long term.

The

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• We maintain our forecast for Czech real GDP growth of 1.6% in 2024, following the Q1 2024 GDP growth rate of 0.5% q-o-q, which was only marginally below our expectation of 0.6%.
• After a sharp 3.1% contraction in 2023, we forecast Czech private consumption to rebound by a modest 1.9% in 2024 as spending is bolstered by a recovery in real

The Latest: In April 2024, Spain-based hotel group Meliá Hotels International announced its plans to open two new luxury hotels in Thailand over the medium term (2024-2028). The company will open Meliá Pattaya City hotel in December 2024, as well as Paradisus Jomtien Resort in 2028. Meliá’s investment will be supported by its partnership with

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• We have revised our forecast for Mexican real GDP in 2024 very modestly lower from 2.5% to 2.3%, which would follow a 3.1% expansion in 2023. 
• Growth remained soft at just 0.2% q-o-q in Q124 (0.1% in Q423), but a sequential pick-up in activity during the quarter means that output is on track to rise by over 1.0% q-o-q in Q224. 
• After a

• We continue to forecast a slowdown in Belgian GDP growth from 1.4% in 2023 to 1.1% in 2024 after growth was unchanged in Q124 at 0.3% q-o-q. 
• We expect private consumption to remain the key driver of economic growth in 2024, adding 0.5pp to the headline figure, while a larger contraction in imports drives net trade support.
• We expect the still tight

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• The Central Bank of the Republic of China (Taiwan) (CBC)'s decision to hike the policy discount rate by 12.5 basis points to 2.00% on March 21 came as a surprise to both us and the consensus. 
• While the CBC seeks to maintain price stability, we believe it will ensure that tight monetary conditions does not come at the expense of economic

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• The flash estimate for eurozone Q124 real GDP showed an expansion of 0.3% q-o-q (BMI forecast and Blomberg consensus: 0.1%), with growth having surprised to the upside in the region’s major economies. 
• We forecast that eurozone real GDP growth will accelerate from 0.5% in 2023 to 0.9% in 2024 and 1.4% in 2025.
• Inflation relief will boost