The economies of La Rioja, CyL, C-LM and Navarra suffered falls in the third quarter of 2022, according to AIReF

The GDP of the Balearic Islands, Canary Islands, C.Valenciana, Catalonia and Madrid, with a GDP that will grow above the national average (0.2%)

MADRID, 31 Oct. (EUROPA PRESS) -

The Independent Authority for Fiscal Responsibility (AIReF) has published this Monday the estimate of the GDP of the autonomous communities for the third quarter of 2022, where it highlights falls in the economies of four regions -La Rioja, Castilla y León, Castilla-La Mancha and Navarra--, which have interquarterly GDP rates below zero.

This is reflected in this AIReF report, which estimates that these four communities are the ones with falls, although at different levels. Thus, La Rioja and Castilla y León have a quarterly GDP rate of -0.02%, while those of Castilla-La Mancha and Navarra are -0.1%.

Following technical parameters, an economy enters a technical recession when the variation in GDP is negative for at least two consecutive quarters compared to the same period of the previous year.

On the other hand, there are five autonomous communities with a GDP that will rise above the national average, which stands at 0.2% in the interquarterly rate. Thus, the Balearics stand out for their expansion (0.5%), followed by Canarias y Comunidad Valenciana (0.4%) and Cataluña and Madrid (0.3%).

Behind these communities are Cantabria, Andalusia and Extremadura, aligned with the national average of 0.2%. After these, Asturias, Galicia, Murcia, the Basque Country and Aragon are placed, with 0.1%.

In year-on-year terms, it can be seen that the Balearic and Canary Islands are also the regions with the highest GDP growth, with increases of 8.4% and 6.8%, respectively, much higher than the growth of Spain as a whole (3.8% ).

They are followed by Aragón, also with 3.8%, Asturias (3.7%); Madrid (3.6%); Basque Country and Navarra (3.3%); La Rioja (3.2%); Andalusia (3%); Extremadura (2.9%); Cantabria and Galicia (2.8%); Castile and León (2.1%); Castilla-La Mancha (1.3%) and Murcia (0.8%).