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During the first quarter of 2023, the Catalan economy showed steady growth. Compared to the previous quarter, Catalonia’s Producto Interno Bruto (PIB) increased by 1.2%. Moreover, a year-on-year growth of 3% was recorded, indicating a favourable economic outlook in the region.
Catalonia’s economy shows quarter-on-quarter growth above the average for Spain and the EU-27, with an increase of 1.2%. On an annual basis, Catalan PIB has grown by 3%, driven by the industrial sector. Although this growth is lower than that of the Spanish economy, it is still above the European average. A technical recession, which had been a possible scenario, has been avoided.
Pharmaceuticals, machinery manufacturing, beverages and the automotive sector have performed well, while food and chemical production has experienced declines.