Catalan economy grew 2% in second quarter of 2019

In terms of GDP, the Catalan economy grew 2% in the second quarter of 2019, compared to the same period last year, according to advance figures from the Idescat statistics institute.

The preliminary figures also show that the 2% growth is a decimal point higher than the increase in GDP registered in the first quarter of 2019 compared to last year.

Meanwhile, the figures show that GDP was 0.6% higher in the second quarter than the first quarter of this year.

By sector, construction companies showed the most growth compared to last year (5.8%), with services, which make up the bulk of the economy, showing a moderate rise of 2.5%.

Tourism also continues to show positive results, both in terms of the numbers of foreign visitors (up 2.6%), and the amount of money spent by tourists (up 5.6%).

Yet, a fall of 0.6% was noted in the industrial sector, attributed to the negative evolution of many Eurozone countries, such as Germany and Italy, and the rise in protectionism.

The 2% rise shows that the Catalan economy has stabilized after the slow-down registered in 2018 due to uncertainty in world trade that has affected above all Eurozone countries.