Quarterly Accounts. Q3/2023

The gross domestic product of Catalonia registers a year-over-year variation of 2.1% in the third quarter of 2023. In quarter-over-quarter terms, the variation is 0.1%.

The Quarterly Accounting estimates for the third quarter of 2023 have not changed the values of the year-over-year and quarter-over-quarter variation rate for Catalonia with respect to the quarterly GDP advance published on 3 November 2023.

From the point of view of demand, domestic demand increased by 1.5%, five tenths less than the previous quarter (2.0%). The components of internal demand show different evolutions. On the one hand, there is a 5.6% growth in consumption expenditure by government, and 1.7% in household consumer expenditure. On the other hand, gross capital formation shows a variation rate of −2.8%.

As for the foreign sector, total exports have increased by 2.4% year-on-year, one point below the second quarter of 2023 (3.4%), and total imports have decreased by 1.6%, after quarters with positive variations.

On the supply side, the services sector (2.8%), construction (2.0%) and industry (1.2%) show positive rates in the third quarter while the agricultural sector registers a negative year-over-year variation of 8.2%, which is nevertheless above the previous quarters.

The Quarterly Accounts are consistent with the corresponding Annual Economic Accounts for Catalonia. Quarterly series should be considered provisional, as the necessary coherence between annual and quarterly estimates requires quarterly estimates to be modified, at least as long as the annual estimates are provisional.