However, gross domestic product in Navarra has grown by 6.5% over the same period compared to the same quarter of 2021, after the 4.9% estimated in the previous quarter.
the economy of Spanish state he has slowed down its quarterly growth is nearly two points between January and March, until it 0.3%for 2.2% of the previous quarter. The decrease in consumption has accelerated this return to the past, according to advanced data from National cashability published this Friday by the National Institute of Statistics (IN).
The agency estimates that household consumption has decreased by 3.7% in the first quarter, compared to the growth of the 1.5% recorded in the last quarter of 2021. It is the first negative household expenditure since the first quarter of 2021 and the biggest decline since the second quarter of 2020, when the pandemic and confinement reduced household consumption by a 20.4%
By contrast, annual GDP growth accelerated by almost one point in the first quarter, from the 5.5% from the last three months of 2021 to 6.4% due to a larger contribution from the foreign sector.
The economy is growing in Navarra
The gross domestic product in Navarra has registered 6.5% growth in the first quarter of 2022, compared to the same quarter of 2021, after the 4.9% estimated last quarter.
This is an example of the estimate made by nastatthe Institute of Statistics of Navarre, which points out that this growth is fundamentally due to the estimated progress in the industry and the observed dynamics in market services and construction.
On the demand side, final consumption spending has declined, while gross investment growth and the positive contribution from foreign demand are striking.
Given the difficulty of the estimation at present and until more indicators are available to adequately measure the impact, Nastat stresses that the provisional nature of these estimates should be taken into account and will be confirmed or amended upon publication of the macroeconomic table on June 24.
Quarter-on-quarter, the rate of variation of Navarra’s GDP is a%
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
