The Spanish GDP has slowed its growth in the first quarter to 0.3%, while that of Navarra has registered a growth of 6.5% in the same period, in relation to the same quarter of 2021, after 4.9 Estimated % in the previous quarter.
Euskaraz irakurri: Espainiako Gobernuak 2.7 points murriztu du 2022rako aurreikuspen ekonomikoa, % 4.3raino
The Government of Spain has cut its growth forecast for the Spanish economy by 4.3% for this year, 2.7 percentage points less than in its previous estimates (7%), in a context of high uncertainty due to the impact of the war in Ukraine and price escalation. Looking ahead to the coming years, the Executive forecasts growth of 3.5% in 2023; 2.4% in 2024 and 1.8% in 2025.
This has been advanced by the First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calvinoafter the Statistics National Institute (INE) advance the data of National contability. According to that report, the economy of the Spanish state he has slowed down its quarterly growth almost two points between January and March, until placing it in the 0.3%in front of 2.2% of the previous quarter. The drop in consumption has precipitated that return to backwards.
This body estimates that household consumption has contracted by 3.7% in the first quarter, compared to the growth of the 1.5% registered in the last quarter of 2021. It is the first negative rate of family spending since the first quarter of 2021, and its largest decrease since the second quarter of 2020, when the pandemic and confinement sank family consumption by a 20.4%.
By contrast, year-on-year GDP growth has accelerated by almost one point in the first quarter, from the 5.5% of the last three months of 2021 to 6.4% as a result of a greater contribution from the foreign sector.
The economy grows in Navarra
The gross domestic product in Navarre has registered a 6.5% growth in the first quarter of 2022, in relation to the same quarter of 2021, after the 4.9% estimated the previous quarter.
This is a preview of the estimate made by nastatthe Statistics Institute of Navarra, which points out that this growth is fundamentally due to the estimated progress in industry and the dynamism observed in market services and construction.
On the demand side, spending on final consumption has eased, while growth in gross capital formation and the positive contribution of foreign demand stand out.
Given the difficulty of the estimate at this time and until more indicators are available that allow the impact to be adequately measured, Nastat stresses that the provisional nature of these estimates must be taken into account, which will be ratified or modified with the publication of the macroeconomic table on 24 of June.
In quarter-on-quarter terms, the rate of change of GDP in Navarra stands at one%.
Source: Eitb
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