Quarterly Accounts. Q3 2019
Catalonia's gross domestic product recorded a year-over-year increase of 2.0% and a quarter-over-quarter increase of 0.4% in the third quarter of 2019.
Looking first at demand, domestic demand showed a significant increase with its rate of growth rising from 1.2% in the second quarter to 2.0% in the third quarter. Trends for the constituents of demand are very different: household consumer expenditure rose by 1.1%, 0.1% higher than in the previous quarter, while public administration consumer expenditure rose by 2.6%, 0.5% more than in the previous quarter. Finally, gross capital formation was once more the most dynamic constituent of domestic demand: its rate of growth went from 1.1% to 3.9%. Regarding the foreign sector, total exports abroad grew 3.2%, 2.1 points less than in the previous quarter, while total foreign imports grew 1.7%.
From a supply perspective, the services sector sustained high levels of activity, with growth at 3.0%; construction saw a rate of growth of 3.5% but with clear signs of a coming slowdown and industry had negative growth (−0.6%), equalling the previous quarter. Finally, the agrarian sector continues to experience negative growth (−2.8%).
The quarterly accounts are presented using the year 2010 as the accounting base and are congruent with the Annual Economic Accounts for Catalonia. Base 2010. The quarterly series should be treated as provisional, given that the need for coherence between the quarterly and annual estimations implies modifications to the quarterly estimations, at least while the annual estimations are still provisional.
News about the review of the Annual and Quarterly Accounts for Catalonia
In accordance with Eurostat's recommendations, the statistical offices must update (at least every five years) the sources and estimation methods used in the preparation of the economic accounts. In this sense, all the results of the statistics that make up the economic accounting of Catalonia will incorporate this revision progressively from the publication of the GDP of the fourth quarter of 2019, which is disseminated simultaneously to the annual GDP (March of 2020). This statistical review entails the revision and update of the entire 2000-2019 accounting series.
The dissemination of the advance of the GDP in the fourth quarter of 2019, which is expected to be in February 2020, will be the latest estimate made with the 2010 accounting base.