Quarterly Accounts. Q1/2023. Advance of the GDP

Catalonia’s gross domestic product in the first quarter of 2023 increased by 3.0% year-over-year, according to the advanced estimate. In quarter-over-quarter terms, the rate of change was 1.2%.

The year-over-year rate of change recorded in the first quarter of the year was 3.0%, three tenths of a percentage point higher than in the previous quarter.

By sector, the industrial sector registered a growth rate of 3.7%, breaking the negative trend of 2022. Construction recorded a rate of 4.5%, more than one point higher than in the last quarter of 2022 (3.2%), while services, with a rate of 3.1%, reduced growth by one point and seven tenths (4.8%). Finally, agriculture, with a year-over-year variation of -10.2%, maintained the negative results of previous quarters.

The purpose of the advance of the quarterly 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 2023 is provisional and will be updated in the next publication of the Quarterly Accounts, scheduled for 9 June.