Catalan economy grows 2.9% in first quarter, early estimate shows

Catalonia's economy grew by 2.9% year-on-year in the first quarter, according to an early estimate from the Statistical Institute of Catalonia (Idescat).

The figure places Catalan gross domestic product (GDP) two tenths of a percentage point above Spain's overall growth rate and well ahead of the 1% expansion recorded in the European Union.

Growth was driven primarily by the services sector, which expanded by 3.7%, while industrial output grew at a more modest pace of 0.6%. Construction grew by 5.4%, although the pace of growth slowed, and agriculture rose by 1.2%.

On a quarter-on-quarter basis, Catalonia's GDP increased by 0.6%, in line with Spain and significantly above the 0.1% EU average.