Press release 10.02.12
GDP in the Basque Country registered 0.2% year-on-year growth
Compared to the previous quarter, it was down 0.2%
The Gross Domestic Product (GDP) of the Basque Country posted positive year-on-year growth of 0.2% compared to the same quarter of the previous year, once corrected for calendar and seasonal effects, according to the advance data prepared by EUSTAT. These data mark an end to the downward trajectory in year-on-year change for 2011 overall. Year-on-year growth in the Spanish economy stood at 0.3%, according to the advance data prepared by the National Statistics Institute.
Compared to the previous quarter, the growth rate for GDP in the Basque Country in the fourth quarter of 2011 registered a negative value of 0.2%, the first negative figure in eight quarters with positive quarter-on-quarter growth. This rate is one tenth less negative than that estimated for the Spanish economy.
In the year overall, real growth of GDP for the Basque Country was estimated at 0.6%, according to provisional data.
From the point of view of supply, year-on-year growth in this quarter was underpinned by the relatively better performance by market services. Both non-market and industry services and, in particular, construction, posted negative figures.
As far as employment was concerned, jobs fell both in year-on-year terms and with respect to the previous quarter. This figure was also negative for 2011 as a whole.
For further information:
Basque Statistics Office
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tel: +34-945-01 75 00 Fax: +34-945-01 75 01 E-mail: email@example.com
Contact: Javier Aramburu
Tel+34-945-01 75 80 Fax:+34-945-01 75 01
Further press releases on the Advance Quarterly Economic Account of the Basque Country (ACET)
Advance Quarterly Economic Account of the Basque Country (ACET) databank