statistics

According to figures from the Spanish Institute of Statistics, prices in Catalonia have risen from -0.3% in Octoeber 2013 to an annual inflation rate of 0.1% in October this year, the same as that of September. Inflation has been kept low by falling prices of electricity, while the rising cost of fresh food has prevented negative inflation. In Spain, prices have risen from a -0.6% annual inflation registered 12 months ago to a negative inflation of -0.1%, accumulating four consecutive months of negative rates. The prices of fresh food and non-alcoholic beverages influenced the most the annual price increase in Catalonia, and thus offset the low performance in other sectors that are contributing to keep annual inflation close to zero in Catalonia, and in the negative for the last four months in the whole of Spain.

Figures released by the Barcelona Chamber of Commerce on Monday showed that the economy of Catalonia is set to grow by 1.6% in 2014 and 2.1% in 2015. The Chamber also predicted that by 2015, there will be a 2% rise in Spain’s GDP and 1.4% in that of the Eurozone countries average. According to the President of the Chamber, Miquel Valls, the recovery of Catalan and Spanish economies is "solid", but he stressed that the "austerity in wages" must be maintained. This report comes after the success of all Catalan banks passing the stress tests issued by the European Banking Authority and the European Central Bank, which 25 banks across Europe failed. Related economic news is that the unemployment figures released for third quarter of 2014 set Catalonia’s rate at 19.1% and Spain’s at 23.67%.

Spain's unemployment rate at the end of the third quarter stands at 23.67%, according to the latest Active Population Survey (EPA). The unemployment rate for Catalonia has fallen below 20% for the first time in the last 3 years and is set at 19.10%. The number of unemployed people in Catalonia has dropped by 44,400 in the third quarter of 2014, a decrease of 5.76% compared to the previous quarter. This is the biggest reduction since at least 2002, when the Spain's Statistical Institute began the series. Thanks to the creation of 69,100 new jobs in Catalonia over the last 12 months, there are now 34,800 more people employed in the third quarter. This makes Catalonia have the second highest unemployment drop in Spain, second only to Madrid Region (-48,200 people). The Catalan Minister for Business and Employment, Felip Puig, has called the figures are "encouraging" and "hopeful", although a 19.1% rate is still "very high".

September figures show that prices are recovering in Catalonia, with inflation posting a 0.1% rate in annual terms. According to figures released by the Spanish Institute of Statistics (INE), Catalonia is showing a positive inflation of 0.1%, up from the -0.1% recorded in August, running away from a deflation scenario. While in Spain, there is a negative annual rate of -0.2%, although it improves the August rate of -0.5%. Overall, prices showing a positive recovery rates were in the sales of fresh fruit and housing. Inflation figures are promising throughout Catalonia, although data is uneven in the provinces of Barcelona, Girona, Lleida and Tarragona showing different positive signs of price stabilizing and positive annual inflation.

Catalonia’s GDP recorded an annual increase of 1.4% in the second quarter of 2014, the best result since September 2008, according to official figures published on Friday by the Catalan Institute of Statistics (IDESCAT). The 1.8% increase in domestic demand means that the annual rate of Catalonia’s GDP is higher than Spain's average, and more than that of the European Union (EU28), both located at 1.2%. Not only is Government spending showing a favourable trend, but there has also been growth in the services sector, and those of industry and agriculture. From September 2014, the EU has set mandatory implementation of the new European System of Accounts (ESA 2010), which IDESCAT plans to have in place to coincide with the results of the GDP in the fourth quarter of 2014.

At the end of August there were 571,616 people registered as unemployed in Catalonia, which represents 40,042 fewer job-seekers than the previous year, a 6.55% reduction, according to figures released on Tuesday by the Spanish Ministry of Employment and Social Security. This is the 14^th consecutive month registering unemployment drops in annual terms. However, coinciding with the end of the summer holiday's peak, the number of job-seekers increased in monthly terms. At the end of August there were 3,385 more unemployed people than at the end of July, which represents a 0.6% growth. In the whole of Spain registered unemployment increased by 8,070 individuals, reaching 4,427,930 people. At the same time, the affiliation to Social Security has decreased for the first time in 6 months, dropping by 97,582 people.

The real estate market has stopped its downward trend and has started its recovery in Spain. Housing prices already registered an increase in September of 2013 in quarterly terms, but now the prices grew for the first time in annual terms, a phenomenon not registered for the last 6 years. By the end of June 2014, prices grew by 0.97% compared to June 2013. In quarterly terms, housing prices increased by 1.53% compared to March 2014. Since the start of the economic crisis in 2008, housing prices have plummeted an average of 32% throughout Spain, with prices equivalent to those registered in 2003. In the second quarter of 2014, Catalonia was the Autonomous Community with the second highest number of housing sales, registering 11,980 operations.

In Catalonia prices fell by 8 decimal points this July compared to a year ago and interanual inflation rate stood at 0%, according to the Spain's Statistical Institute (INE). This is a contrast to Spain as a whole, where prices fell by 9 decimal points in July, placing the Consumer Price Index (CPI) in negative figures, as low as -0.3%. This level of negative inflation has not been recorded in the country since September 2010, when the CPI lay at -0.7%. This contrast in inflation rates indicates that the Catalan CPI is able to resist falling into negative numbers, despite what has happened to Spain's economy this year, which already registered negative CPI statistics this March. 

The so-called Consumer Price Index (IPC) – which represents the inflation rate – in May stood at 0.5% in Catalonia in annual terms. In April, it stood at 0.7% according to figures published on Friday by the Spanish Institute of Statistics (INE). Across the whole of Spain, inflation increased by 0.2% in May, while in April a 0.4% inflation rate was recorded, the IPC data confirms.  Core inflation – which does not take into account the prices of energy and unprocessed food –  fell from 0.3% in April to 0.0% in May. The product groups that had a greater impact on May's IPC were food and non-alcoholic beverages (-0.8%), recreation and culture (-1.1%) and hotels, cafes and restaurants (+0.5%).

Registered unemployment in Catalonia has dropped to 592,304 people at the end of May 2014: the first time the figure has fallen below the 600,000 mark since August 2011. According to figures released by the Spanish Ministry of Employment and Social Security, between May 2013 and May 2014, registered unemployment dropped by 7.76 %, a reduction of 49,862 people. In only one month, unemployment decreased by 19,518 people from April to May, a 3.19 % drop. This has been the greatest monthly decrease recorded in May for 18 years. Furthermore, Catalonia has also experienced the greatest fall in unemployment of any Autonomous Community in Spain this last May, followed by the Region of Madrid.

The Catalan economy grew by 0.4% in the first quarter of 2014, which means that GDP has been increasing for the last 4 consecutive quarters, leaving recession far behind, according to an early estimate published on Monday by Catalonia’s Statistics Institute (Idescat) and the Catalan Ministry of the Economy and Knowledge. Furthermore, between March 2013 and March 2014, Catalonia’s economy grew by 0.8%. In the second quarter of 2013 it registered a quarterly growth of 0.1%; in the third it also posted a 0.1% quarterly growth; between October and December, it increased by 0,2%; and now, between January and March, it grew by 0.4%. The services sector has been the main engine behind this positive trend; in the last 12 months it grew by 1.4%.

The Catalan economy has continued on a positive trend during the fourth quarter of 2013, also speeding up the recovery process. According to data released on Friday by the Catalan Ministry of Economy and Knowledge alongside the Catalan Institute of Statistics (Idescat), Catalonia’s GDP grew by 0.4% in the fourth quarter of 2013, while the Spanish average stood at 0.3%. In the whole year, the Catalan GDP has decreased by 0.6 %, while in 2012 it dropped by 1.3%. The continued good results in exports due to the increasing external demand and the improvement of the domestic demand have driven the economy forward.

By the end of December, Catalonia registered a 0.2% annual inflation rate, according to the Spanish Statistics Institute (INE). This figure is the lowest recorded in Catalonia at the end of the year since December 1978, when the INE started providing figures for each of the Autonomous Communities. In the whole of Spain, prices ended 2013 posting an annual inflation rate of 0.3%, the lowest registered on a month of December since 1961; the very year such figures started being released. However, these are not the lowest annual inflation rates, since the record was set in July 2009, with a -0.9% annual rate in Catalonia. In monthly terms, prices increased by 0.2% in December in Catalonia on November figures and by 0.1% in the whole of Spain. The price increase was mostly due to the growth in oil prices, while leisure, culture and clothing helped minimising the general increase.

Catalonia has confirmed its fourth place in the Autonomous Community rankings of GDP per capita, according to figures released by the Spanish Institute of Statistics (INE). This data from 2012 reveals that the Basque Country is still the leading area in Spain, followed by the region of Madrid and Navarre. The figures indicate that the GDP per capita of Catalonia amounted to €26,412 in 2012, meaning 0.7 % less than in 2011. In 2012, the wealth generated by the Catalans totalled €192,535 million, 18.7 % of the Spanish GDP, above the 2011 figures when Catalonia contributed to 18.6 % of the Spanish economy.

According to the Catalan Institute of Statistics (Idescat), Catalonia’s economy grew by 0.1% between July and September. For the first time in 9 quarters, the Catalan economy is growing again, leaving behind the technical recession. However, in annual terms, Catalonia’s GDP has not recovered yet and at the end of September it posted a 0.6% decrease on data from September 2012. Besides, the Spanish Institute of Statistics (INE) confirmed that the Spanish Economy also grew by 0.1% in the third quarter of the year, a figure which had been advanced last week by the Bank of Spain. In annual terms, the Spanish economy dropped by 1.2% compared to data from September 2012.