Press release 10/11/2011

ADVANCE QUARTERLY ECONOMIC ACCOUNTS OF THE BASQUE COUNTRY (ACET) 3rd QUARTER 2011

The GDP of the Basque Country registered 0.6% year-on-year growth in the third quarter of 2011

There was no change in Growth (0.0%) with respect to the previous quarter

The Gross Domestic Product (GDP) of the Basque Country posted growth of 0.6% in the third 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 indicates two-tenths 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 Bank of Spain.

In quarter-on-quarter terms, the GDP of the Basque Country in the third quarter of 2011 remained unchanged (0.0%). This figure is also two-tenths less than the change registered in the previous quarter and identical to that registered by the Spanish economy, according to the estimation carried out for the third quarter by the Bank of Spain.

This year-on-year and quarter-on-quarter behaviour of GDP is a result of a negative change in construction and a deceleration of industry, together with a better performance by the services sector.



Employment, on the other hand, showed a reduction both with respect to the same quarter of the previous year, with a drop of 0.7%, and with respect to the previous quarter, with a drop of 0.4%.

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