Quarterly Accounts. Q1/2021. Advance of the GDP
Catalonia's gross domestic product showed a year-over-year rate of −4.3%, according to the advanced estimate for the first quarter of 2021, and the quarter-over-quarter rate stood at −0.4%.
By sectors, industry increased by 1.9% year-over-year, after falling by -4.8% in the fourth quarter of 2020. Construction, with a rate of -11.5%, improved by almost five points compared to the last quarter of 2020 (-16.3% year-over-year). Services again had a negative rate (-5.9%), but showed some signs of recovery compared to the fourth quarter of 2020 (-10.1%). Agriculture, with a year-over-year variation of 1.2%, improved by more than two points from the last recorded entry.
The aim of the Advance of the Quarterly GDP is to provide information on the evolution of the Catalan economy with the least possible delay with respect to the reference quarter. For this reason, the calculation of main aggregates uses statistical sources that do not cover the entire period and which normally exclude data for the third month of the quarter.
The advance of the GDP results for the first quarter of 2021 is provisional and will be updated in the next publication of the quarterly accounts, scheduled for 11 June.