BarcelonaIn the third quarter, the Catalan economy maintained the strong growth rate it has been accumulating for a year, at a rate even higher than that of the Spanish economy, according to provisional data on the gross domestic product (GDP, the indicator that measures economic activity) of Catalonia published this Wednesday by Idescat, the statistics institute of the Generalitat.
Thus, between the months of July and September, the Catalan economy expanded by 0.9% compared to the previous three months, one tenth more than the Spanish average and triple the 0.3% recorded in the area as a whole euro Compared to the third quarter of 2023, Catalan GDP increased by 3.8%, eight tenths more than the annual rate recorded in the second quarter.
This figure of 3.8% exceeds by four tenths the 3.4% year-on-year growth in Spain. Although the State is one of the fastest growing economies in the Eurozone – where on average economic activity expanded in the third quarter by 0.9% compared to the same period last year, Catalonia has several quarters exceeding its growth rate.
The services sector was the main driver of growth, with activity expanding by 1% compared to the previous quarter and by 4.4% compared to a year ago. This is a common occurrence in the summer months, since the time of greatest influx of tourists (both local and foreign) coincides with the holiday season, when family consumption increases, especially in leisure services, culture and hospitality
By contrast, both construction and industry contracted during the summer months by -0.1% and -0.4%, respectively, although when compared to levels in the third quarter of 2023 they show growth of 2.9% in the case of construction and 4.3% in the case of the industrial sector.
In addition, the primary sector increased activity by 0.3% compared to the previous quarter and by a remarkable 14.4% compared to a year ago.
(We are working to expand this information)
Source: www.ara.cat
