The Aragonese economy grows by 2.4% year-on-year in the first quarter of the year

In the first quarter of the year, the Gross Domestic Product ( GDP ) of Aragon increased by 0.6% , 2.4% in the last twelve months. These are data from the Quarterly Economic Bulletin number 85 that has just been published and which includes the analysis of the evolution of the international, Spanish and, especially, Aragonese economy during the first quarter of 2024, as well as the data available for the second quarter of the year.

Both domestic and external demand have contributed to the good performance of the Aragonese economy in winter , with solid growth in household consumption and investment in construction, as well as a significant increase in exports combined with a reduction in imports.

From a supply perspective , all sectors increased their production in the first quarter, with the dynamic pace shown by the construction and manufacturing industries being particularly noteworthy.

A good performance that continues in the second quarter of the year according to the partial indicators available that suggest that activity in the Aragonese economy would continue to show an appreciable rate of expansion , similar to what is observed in Spain as a whole . Both economies have been showing notable resilience , particularly in comparison with the European Monetary Union, in an adverse environment dominated by the tightening of monetary policy and high geopolitical uncertainty.

This resilience would be supported by the strength of household consumption , which in turn rests on the good performance of the labour market , as well as the dynamism of goods exports.