Analysis-Catalonia's economic muscle weakened five years after separatist bid

President of Republican Left Party (ERC) of Catalonia, Oriol Junqueras talks on his mobile phone after an interview with Reuters at headquarters of ERC in Barcelona, Spain, October 25, 2022. The banner reads “Republican values“. REUTERS/Nacho Doce

BARCELONA (Reuters) - Five years after Catalonia's attempt to uncouple itself from Spain sent shockwaves across Europe, the independence movement is grappling with internal divisions, dwindling public support and the economic fallout from a corporate exodus.

Catalonia has lost its status to Madrid as Spain's No 1 economic powerhouse after thousands of companies moved their legal headquarters out of the region, fearing the 2017 secession drive would leave Catalonia outside the European Union and its protections.