growth

Catalonia’s GDP to grow by 0.9% in 2014 with a 23.1% unemployment rate according to Catalan Government

November 5, 2013 10:36 PM | ACN

The Catalan Government has forecasted a 0.9% economic growth for 2014 in its budget proposal for next year, leaving behind the recession of 2012 (-1.2%) and 2013 (-1.1%). The positive figures are mostly due to the strength of the export sector – which will continue to improve its results. The main factor slowing down growth will be the internal demand, which will continue to decrease although it will do so at a lower pace. In addition, the Catalan Executive believes the unemployment rate will decrease and reach 23.1% by the end of the year. It is expected 2013 will end with a 23.7% unemployment rate, higher than the 22.6% rate registered at the end of 2012.

Catalonia leaves recession behind and posts 0.1% quarterly growth in September

October 30, 2013 10:03 PM | ACN

According to the Catalan Institute of Statistics (Idescat), Catalonia’s economy grew by 0.1% between July and September. For the first time in 9 quarters, the Catalan economy is growing again, leaving behind the technical recession. However, in annual terms, Catalonia’s GDP has not recovered yet and at the end of September it posted a 0.6% decrease on data from September 2012. Besides, the Spanish Institute of Statistics (INE) confirmed that the Spanish Economy also grew by 0.1% in the third quarter of the year, a figure which had been advanced last week by the Bank of Spain. In annual terms, the Spanish economy dropped by 1.2% compared to data from September 2012.

The Catalan economy stops the fall of GDP and records a 0.0% growth during the second quarter of 2013

August 7, 2013 08:53 PM | ACN

According to data released by the Catalan Finance Ministry, the Catalan economy has stopped the fall in GDP during the second quarter of 2013, since it remained at the same rate of the previous quarter. There has been a slow strengthening of the Catalan economy over the last few months: the fourth quarter of 2012 saw a reduction of 0.7%, the first quarter of 2013 GDP only shrunk by 0.1% and during the second quarter it remained stable at 0% growth. The improvement has been due to the industrial sector, particularly thanks to the exportation of goods which made up for the sustained falling of domestic demand. However, compared to the same figures for last year, the Catalan economy decreased by 1.3%.

Catalonia’s economy contracted by 1% in 2012, while the Spanish GDP dropped by 1.4%

March 21, 2013 09:58 PM | CNA

According to the Spanish Statistics Institute (INE), the Catalan GDP fell by 1% last year. However, according to the Catalan Statistics Institute (Idescat), it dropped by 1.3%. Regarding Spain’s economy, the INE declared that it fell by 1.4% while the Idescat indicates it plummeted by 1.9%. The reason for these differences is that data from both institutes are based on estimates and are still provisional. In any case, Catalonia is one of the Autonomous Communities with the mildest recession in Spain and continues to be that with the highest GDP, €198.63 billion. In addition, Catalonia is among those with the highest GDP per capita, set at €27,248 while the Spanish average was €22,772.

The Catalan economy contracted by 1.3% in 2012, while the Spanish economy decreased by 1.8%

February 14, 2013 10:57 PM | CNA

Economic recession hit Catalonia even harder in 2012 than in 2011, when it dropped by 0.7%. The contraction was especially severe in the last quarter of the year. In December, Catalonia’s GDP plummeted by 0.6% compared to 3 months previously. The fourth quarter’s poor figures made the Catalan economy contract by 1.3% over 2012. In 2011, it also decreased but at a slower pace, dropping by 0.7%. For the whole of Spain, the economy plummeted by 1.8% in 2012 and by 0.7% over the last quarter of the year, compared to the figures from September 2012. The main reason behind the last quarter’s drop is the decrease in consumption by families, compared to the purchases made in the third quarter, before the VAT increase.

Catalonia’s GDP dropped by 0.3% over the second quarter

August 6, 2012 09:58 PM | CNA / David Tuxworth

The Catalan economy remains in recession and decreased by 1.1% compared to last year. Although tourism and the foreign sectors have seen an increase, internal demand has been reduced, decreasing business in the industrial, construction and services sectors. The number of foreign tourists increased by 12.3% and tourist spending increased by 14.3%. In both cases, the percentages are much higher than the figures for Spain as a whole (2.9% and 5.6% respectively).

Catalan economists ask for European public funds to restructure Spanish Banks

May 11, 2012 11:44 PM | CNA / Josep Molina

Considering the “exceptional” crisis Spain’s banking system is going through, the Cercle d’Economia, a Catalan economic forum open to businesspeople and academics, recommends “drastic” measures in order to face a “systemic” problem at European level. The Chairman of Cercle d’Economia, former Spanish Minister Josep Piqué, stated that Spain “will not succeed on its own”.

The foundation to turn Barcelona into a world ‘hub’ of new technologies is born

March 13, 2012 11:48 PM | CNA

Barcelona was declared the Mobile World Capital last summer, and the organising city of the Mobile World Congress until at least 2018. Being the Mobile World Capital means that Barcelona aims to become one of the main world centres for the mobile industry. Furthermore, several projects will be based in the Catalan capital, such as a Mobile World Hub. A foundation has been created to promote these projects and attract investments. It is funded with € 30 million each from Barcelona City Council, the Catalan Government and the Spanish Government, and it is open to the private sector.

The Catalan economy grew by 0.7% in 2011 but contracted by 0.4% in the last quarter

February 16, 2012 10:53 PM | CNA

The Spanish Economy grew by 0.7% last year, however decreased by 0.3% in the last quarter, because of the “contraction in domestic demand”. The Catalan Finance Minister, Andreu Mas-Colell, said he would review the 0.8% growth prediction for 2012, since the latest data points to an economic slowdown. Besides, the Spanish Deputy Minister for the Economy, Fernando Jiménez Latorre, stated that data for the first term of 2012 “will be similar” to that of the last quarter of 2011 “or a bit worse”; if confirmed, it would mean a recession.

Josep Borrell asks the European Central Bank and Member State governments “to do the opposite to what they are doing” to save the euro

November 30, 2011 07:10 PM | CNA

The former President of the European Parliament, Josep Borrell, believes that the European Central Bank must buy sovereign debt and that governments need to implement budget cuts at a slower rate in order to avoid a drop in economic growth. Borrell also stressed that “the worst is possible”, and that they must act quickly. However, he added that “the euro will not disappear” but if some countries were left out, “it would be a problem for everybody” as “it would cause a big mess”.