Quarterly Accounts. Q2/2023. Advance of the GDP

Catalonia’s gross domestic product in the second quarter of 2023 increased by 1.8% year-over-year, according to the advanced estimate. In quarter-over-quarter terms, the rate of change was 0.4%.

The year-over-year rate of change recorded in the second quarter of the year was 1.8%, one point and two tenths below the previous quarter.

This change is explained by the behaviour of the different sectors of activity. Services registered a growth of 1.3%, two points and three tenths below the previous quarter (3.6%), and construction, with a growth of 5.2%, decreased by seven tenths the value obtained in the last quarter (5.9%). In the opposite direction, industry presents a rate of 2.6%, nine tenths above the first quarter (1.7%). Finally, agriculture has a year-over-year variation of −3.3%.

The purpose of the of the quarterly advance of 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 second quarter of 2023 is provisional and will be updated in the next publication of the Quarterly Accounts, scheduled for 14 September.