Economy to grow 3% in 2018, say analysts

The Catalan Economists’ Association (CEC) believes that Catalonia’s economy will grow by around 3% throughout 2018. 

With record export figures, an increase in employment, and positive figures in production and investment, the Catalan economy is advancing steadily, the group has concluded. 

However, they have noted a “contradiction” between consumption, which is growing at a high level globally at 3.2%, and commerce, which is not growing at the same pace. Between January and April this year, sales  actually fell by 2.9%, and retail increased by only 1.9%.

According to the economist Jordi Goula, some of the factors explaining this could include the growth of e-commerce, as well as a “change of habits.”

Despite this, it was pointed out that after a period of crisis, the economy has been growing at around 3% for 13 straight terms. This is an “extraordinary” milestone, according to the president of the CEC commission, Modest Guinjoan. 

Record exports

Catalan exports reached a new record  between January and April hitting €24.1 billion, according to figures released on Thursday by the Spanish Ministry of Industry and Trade.

Sales abroad during the first quarter were up 4.5% in comparison to the same period last year. April also registered a historical figure, with sales of up to €5.9bn, an 8.1% increase in comparison to 2017.