The first quarter of 2023 has seen steady growth in the Catalan economy

During the first quarter of 2023, the Catalan economy showed steady growth. Compared to the previous quarter, Catalonia’s Producto Interno Bruto (PIB) increased by 1.2%. Moreover, a year-on-year growth of 3% was recorded, indicating a favourable economic outlook in the region.

Catalonia’s economy shows quarter-on-quarter growth above the average for Spain and the EU-27, with an increase of 1.2%. On an annual basis, Catalan PIB has grown by 3%, driven by the industrial sector. Although this growth is lower than that of the Spanish economy, it is still above the European average. A technical recession, which had been a possible scenario, has been avoided.

Pharmaceuticals, machinery manufacturing, beverages and the automotive sector have performed well, while food and chemical production has experienced declines.