Quarterly Accounts. Q1/2024. Advance of the GDP
The gross domestic product of Catalonia increased by 2.6% year-over-year in the first quarter of 2024, according to the advance estimate. In quarter-over-quarter terms, the rate of change was 0.8%.
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(In Catalan)The year-over-year variation recorded in the first quarter of 2024 (2.6%) was two tenths lower than that of the fourth quarter of 2023 (2.8%).
The GDP growth in the first quarter was determined by the positive evolution of all sectors except agriculture. The industrial sector stood out at 4.4%, six tenths more than in the previous quarter. Services registered a rate of change of 2.4%, five tenths lower than in the fourth quarter of 2023. On the other hand, construction recorded a rate of variation of 1.9%, one point and three tenths higher than that of the last quarter. Finally, agriculture showed a year-over-year variation of −3.4%, maintaining negative rates but less intensively than in previous quarters.
The purpose of the of the quarterly advance of GDP is to provide information on the evolution of the Catalan economy with the least possible delay after the quarter in question. For this reason, macromagnitudes are calculated using statistical sources that do not cover the entire period and do not normally include data for the third month of the quarter.
The advance of the GDP results for the first quarter of 2024 is provisional and will be updated in the next publication of the Quarterly Accounts, scheduled for 14 June.