Press release 08/09/2011

ADVANCE QUARTERLY ECONOMIC ACCOUNTS OF THE BASQUE COUNTRY (ACET) 2ND QUARTER 2011

The GDP of the Basque Country registered 0.8% year-on-year growth in the second quarter of 2011

Growth was up 0.2% on the previous quarter

The Gross Domestic Product (GDP) of the Basque Country posted growth of 0.8% in the second quarter of 2011, compared to the same period of the previous year, once corrected for calendar and seasonal effects, according to the advance data prepared by EUSTAT. This data shows one-tenth less growth than that shown in the previous quarter. The year on year rate for the Spanish economy grew by 0.7% according to the estimation carried out by the National Statistics Institute.

As for the variation of the GDP of the Basque Country in the second quarter of 2011, it posted growth of 0.2% compared to the previous quarter. As in the year-on-year data, this figure is a one-tenth lower than that posted in the previous quarter and identical to that achieved by the Spanish economy.

Year-on-year variation has been determined by slightly more positive behaviour from the service sectors, together with more moderate figures from industry and a greater fall in construction.



In terms of employment, the variation with regards to the same quarter of the previous year continued on a negative slant, with a drop of 0.4%, although it posted light growth (0.1%) compared to the previous quarter.

Methodological note: Definitive annual data from 2009 and advance data from 2010 from the Economic Accounts of the Basque Country have been incorporated into this publication for the second quarter of 2011, which has led to the reestimation of the series of Quarterly Accounts from the first quarter of 2009.

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: eustat@eustat.eus 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