Spain | 1st estimation of the regional GDP growth in 2019

Summary

The results confirm the BBVA Research scenario. GDP growth was higher in Madrid, Navarra and the southeast of the peninsula (Andalusia, Murcia and C. Valenciana). On the other hand, a more marked slowdown is observed in the peninsular center (Castilla-La Mancha, Castilla y León and Aragón) and Cantabria.

Key points

• Key points:
• INE data confirm BBVA Research estimation in the main communities
• The published results imply that the slowdown at the national level affected almost all the regions in 2019
• The lower contribution of agriculture mainly explained the slowdown in growth in Spain from 2.4% in 2018 to 2.0% in 2019
• Construction slowed down in all the Autonomous Communities, in line with the national economy
• Services showed significant improvements in Andalusia, Murcia and C. Valenciana, while a sharp slowdown in the sector took place in the islands and Madrid

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