Catalonia's economy surpasses Spain and EU averages in Q2 growth

Increased public spending and strong internal demand drive 3% economic growth in Catalonia

Operator at the Seat plant in Martorell.
Operator at the Seat plant in Martorell. / Àlex Recolons
Catalan News

Catalan News | @catalannews | Barcelona

September 13, 2024 01:49 PM

The Catalan economy experienced notable growth in the second quarter of 2024, according to updated figures from the Institute of Statistics of Catalonia.

The region's GDP grew by 3% compared to the same period last year, and by 0.9% compared to the last quarter, according to their latest report.

This positive growth was fueled by increased internal demand. In particular, public spending rose by 3.9%, while gross capital formation—investments in physical assets—grew by 3.4%.

When compared to the broader Spanish economy, which saw a growth of 2.9%, Catalonia's performance is significant, and it exceeds the EU’s average growth rate of 0.8%. 

This reflects strong economic performance in Catalonia as it continues to grow.