Press Release 07/02/2014
The GDP of the Basque Country registered a 0.3% quarter-on-quarter growth in the fourth quarter of 2013
In 2013 as a whole GDP fell by 1.2%
The Gross Domestic Product (GDP) of the Basque Country posted a growth of 0.3% in the fourth quarter of 2013 with respect to the previous quarter, once corrected for calendar and seasonal effects, according to the advance data prepared by EUSTAT. The quarter-on-quarter variation of the Spanish economy also stood at 0.3%, according to data published by the National Statistics Institute (INE).
Compared to the same quarter of the previous year, the year-on-year variation rate was down by 0.3%, eight-tenths of a percentage point higher than the year-on-year variation posted in the third quarter (-1.1%). This year-on-year rate stood at -0.1% for the Spanish economy.
From the point of view of supply, quarter-on-quarter growth was due above all to the contributions of the primary sector, construction sector and the market services sector. In year-on-year terms, all sectors showed negative rates in the fourth quarter, except for the industry sector, which obtained a non-negative year-on-year rate for the first time after eight consecutive periods of decline.
Employment, measured as full-time equivalent jobs, posted a timid quarter-on-quarter increase of 0.1% following thirteen consecutive periods of contraction. In year-on-year terms, however, employment fell in the fourth quarter by 0.1%, a smaller drop than in previous periods.
The first estimation of GDP variation for the whole of 2013 indicated a fall of 1.2%, identical to that registered by the Spanish economy.
For further information:
Eustat - Euskal Estatistika Erakundea / Instituto Vasco de Estadística
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
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Further press releases on the Advance Quarterly Economic Account of the Basque Country (ACET)
Advance Quarterly Economic Account of the Basque Country (ACET) databank