Economic growth in the first quarter of 2023 reached 2.7%.

The figure shows that this is the lowest growth rate since the third quarter of 2020, when the country was suffering the consequences of the pandemic.

On the other hand, the final consumption of the population has increased by 2.15%. Divided into sectors, it seems that real estate has kept the economy afloat. This market registers the highest contribution to the growth of the Gross Domestic Product, with 0.62 percentage points.

The second with the highest contribution is “entertainment and service activities” with 0.6 percentage points, followed by “education and health” with 0.5 percentage points. The branches that have made the smallest contribution to the overall increase in production are agriculture, as well as professional administration activities.

As for the changes compared to the previous quarter, the seasonally adjusted Gross Domestic Product indicator is estimated to have increased by 1.4%.

The growth rates of the economy at these levels reflect the consequences of high immigration that has affected consumption and price increases.