Catalan economy picks up pace in the second quarter
Services sector boosts Catalan GDP by 1.5% between April and June despite Ukraine war
BarcelonaCatalan economy increased the pace of growth during the second quarter this year, according to data advanced on Monday by Idescat, the Generalitat's statistical agency. The impact of the war in Ukraine and high inflation registered since the outbreak of the conflict did not prevent growth of the economic activity during the spring, thanks to the boom in the services sector.
Thus, Catalonia's gross domestic product (GDP, the indicator that measures economic activity) increased by 1.5% between April and June, a growth rate four tenths higher than that recorded in the first quarter of the year. Compared to a year ago, the Catalan economy grew by 4.8%, down from 6.7% in the first three months of the year, due to the sharp rise recorded in the second quarter of 2021.
Although they use different methodologies to calculate growth, Idescat's data are in line with those published last week by the Spanish National Statistics Institute (INE), which estimated a growth of the Spanish economy of 1.1% in the second quarter compared to the first three months of the year.