Catalan economy sees slight growth in first quarter, bringing annual GDP increase to 2.6%

The Catalan economy grew by 0.8% during the first quarter of 2024, bringing the annual increase in GDP to 2.6%, according to the advanced estimate of the Catalonia's Statistics Institute (Idescat).

In quarter-on-quarter terms, the rate of change was one tenth higher than the Spanish rate (0.7%) and five tenths higher than that recorded in the EU 27 (0.3%).

As for the year-on-year rate, it is two tenths less than the fourth quarter of 2023.

All sectors have seen year-on-year growth except for agriculture, where there was a 3.4% decline amid tight drought restrictions.

The industrial sector grew by 4.4% in this time, followed by services (2.4%) and construction (1.9%).