Catalan GDP grows by 3% from last year
Economy remains strong despite slight decline from previous higher figures
The Catalan GDP continued to grow in the second quarter of the year, surpassing the previous one by 0.7%, and outperforming the same period in 2017 by 3.1%.
Although the economy’s growth remains strong, the latest figures show a slight decline from previous higher figures. Both figures fall 0.1% short of the records from the first quarter of the year. In the first quarter of the year, GDP grew by 0.8% from the last term in 2017, and 3.2% in comparison with the same period in the previous year.
The Catalan GDP growth from the first to the second quarter stayed ahead of that of Spain (0.6%) and the European Union (0.4%). It also surpassed Spain’s growth from last year (2.7%), as well as the EU figures (2.1%).
Internal demand remains the main driver for economic development, with families’ consumption falling from 2.8% to 2% in three months, and companies’ investment rising from 2.9% to 4.8%.
The production of Catalan industry went up from 1.5% to 5.3% in the second quarter, thus amounting to the largest part of the rise in investment.