The Catalan economy grows 3.4% in 2017
Fri Feb 09 00:00:00 UTC 2018
- The quarter-on-quarter change rate for the fourth quarter is 0.8%, matching the third quarter. Catalan GDP growth is three tenths higher than that of Spain as a whole and one point above the euro zone average
According to the forecast of progress made jointly by Idescat and the Department of the Vice-presidency and of the Economy and Finance, the Catalan economy grew by 3.4% in 2017, just one tenth less than in 2016 and 2015. Thus, Catalan GDP growth stands three tenths above the whole of Spain and exceeds the euro zone average by one point. The results of the last three years (3.5% in 2015, 3.5% in 2016 and 3.4% in 2017), together with the results registered in 2014 (2.3%), represent a period of strong growth for the Catalan economy.
As regards quarter-on-quarter data, the growth of the Catalan economy in the fourth quarter of 2017 stood at 0.8%, the same as that recorded in the previous quarter.
From a supply point of view, the most outstanding features are the strong growth shown by industry, the beginning of the recovery in construction and the positive movements in services, driven by reactivation of the other supply areas and due to demand factors.
In particular, the results of the forecast of progress on a sector level show that the industrial sector accelerated its year-on-year growth in the fourth quarter to 4.8%, while on average in 2017 the industrial GVA grew by 3.7%. These results give continuity to the very positive figures experienced by the industrial sector in recent years. Sectorial groupings where industrial production shows a more positive year-on-year performance correspond to metallurgy and metal products, electrical, electronic and optical equipment, and machinery and mechanical equipment. For the fourth consecutive year, the growth of industry continues to be superior in Catalonia than in the whole of the euro zone.