Quarterly Accounts. Q4/2023. Advance of the GDP

Catalonia’s gross domestic product increased by 2.8% year-over-year in the fourth quarter of 2023, according to the advanced estimate. In quarter-over-quarter terms, the rate of change was 0.7%.

By sectors, industry registered the most positive performance with growth standing at 3.7%, seven tenths of a percentage point higher than in the previous quarter (3.0%). Services showed a year-over-year change of 2.6% while construction grew by 2.1%. By contrast, agriculture posted an18.3% decline, thus maintaining the negative variation of previous quarters.

The purpose 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, the main aggregates 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 fourth quarter of 2023 is provisional and will be updated in the next publication of the Quarterly Accounts, scheduled for 20 March.