The Catalan economy grew 3.4% in 2015, above spanish and european growth rates

Catalan Economy

10 Feb 2016

The catalan economy closed the fourth quarter of 2015 with a year-on-year growth of 4.1% thanks to internal demand and exports. average figures for the year’s four quarters places growth at 3.4% in 2015, the highest figure for the last nine years. 

catalonia is growing faster than spain (3.2%) and above the european average (1.6%). in line with this winter’s economic forecasts published by the european commission, countries such as germany (1.7%), italy (0.8%) and finland (0%) are growing at rates below the catalan economy. in fact, the only countries showing higher growth rates are ireland (6.9%), malta (4.9%), luxembourg (4.7%) and slovakia (3,5%). 

in sectorial terms, average growth in the industrial sector is at 2.7%, in other words, 1.2 percentage points more than in 2014, and now shows three consecutive years of positive growth; the construction sector is going back to positive growth with 3.5%, after 7 years of strong adjustments; and the service sector shows the most significant growth, with 3.8%, which largely explains the results obtained for the economy as a whole. the trend in service growth benefited in 2015 from the strength of internal demand and from the buoyancy of the tourist sector on all levels; internationally, internally and in the rest of spain. 

source: idescat and the ministry of the vice-presidency and of the economy and finance.

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