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September 16, 2014

Catalan economy will grow by 1.5% in 2014

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The Chamber of Commerce of Barcelona believes that the recovery of the Catalan economy is a reality, and this fact confirms its forecast of growth of gross domestic product (GDP) in 2014, which will be “higher than 1.5%”,  what is three-tenths more than forecast published three months ago.

Catalonia records three consecutive quarters of positive and accelerated economic growth. According to the synthetic indicator of activity, which is calculated by the Chamber of Commerce of Barcelona, in the second quarter of 2014 the Catalan economy grew by 1.3% annually, which was a growth higher than predicted by the Catalan Institute of Statistics Idescat (0,9%).

The president of the Institute of Statistics, Miquel Valls, explained that the forecast for the third quarter is also positive, and can be increased to 2% of growth in interannual terms. In addition, the improvement in private consumption of the population of Catalonia is growing higher than 2%, which leads to the conclusion that Chamber of Commerce may revise in the fall of this year the forecast made of economic growth in Catalonia upward for the coming 2015.

“This growth is strengthened, in a greater extent, by exports and industry,” said Miquel Valls. In this regard, he added that the business of the Catalan companies abroad shows the real growth of 2.4% due to the decline in sales outside of the EU, while in Europe, the sales increased by 6.1%. Besides, the number of Catalan exporting companies reached a record number in 2013, with 49.050 companies engaged in export activities, what is in 3,000 more than the previous year and in 43% more than at the beginning of the economic crisis.


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