Idescat has confirmed today the slowdown of the Catalan economy in the third quarter of the year when the GDP (everything produced in the community) advanced 0.1% quarter-on-quarter, leaving the annual rate at 2.1%. It is a situation very similar to the one that occurred last year when in the same period the GDP came to a screeching halt, registering 0% growth.
Despite everything, the quarterly data for the Catalan economy is slightly better than that of Europe as a whole, where the increase was 0.0%. But it is worse than that of the Spanish economy where growth was three tenths.
In a statement, Idescat highlights that the improvement in GDP “is explained by the increase in domestic demand (1.5%), with a special relevance of consumption by public administrations (5.6%) and by the increase in total exports of goods and services abroad”. As for the sectors, a positive evolution is recorded in all except in agriculture, which records losses for yet another quarter.
If analyzed in detail, the improvement in grouped activity within the field of commerce, transport and hospitality stands out (3.9% more). The areas of real estate and professional activities increased the annual rate by 2.8%. Public Administration, education, health and social services registered a growth of 1.2%, seven tenths less than what occurred in the previous quarter.
The data show a lower increase in family consumption, which increased by 1.7% in the year. In this case they are seven tenths less than in the previous quarter.
