Fiscal body forecasts fourth quarter growth of 0.7% for Catalan economy

The Catalan economy is set to grow slightly more than expected, according to the Independent Authority for Fiscal Responsibility, or Airef. The independent body for budgetary stability has adjusted its original forecast, raising expected growth to 0.7% for the fourth quarter of the year, up two decimal points compared with the same period last year.

Airef’s calculations were made after incorporating National Institute of Statistics figures for the retail sector in November, in which a 1.7% rise in sales was registered. As for the coming year, Airef forecasts growth of 0.8% for the Catalan economy. “This development reflects the reduction in uncertainty registered last month,” the body said in a statement.

Airef made its forecasts using the Mipred Cat model, which records the impact of data published in real time. To date, only 36% of the information relating to the fourth quarter is available, with new indicators for December and January expected soon.