Press Release 31/07/2014

ADVANCE QUARTERLY ECONOMIC ACCOUNTS OF THE BASQUE COUNTRY (ACET) 2ND QUARTER 2014

The GDP of the Basque Country posted a 0.4% quarter-on-quarter growth in the second quarter of 2014

The year-on-year growth stood at 0.9%, which is a second positive figure after nine negative year-on-year rates

The Gross Domestic Product (GDP) of the Basque Country posted a growth of 0.4% in the second quarter of 2014 compared 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 stood at 0.6%, according to the estimation carried out by the National Statistics Institute (INE).

Compared to the same quarter of the previous year, the year-on-year variation rate was 0.9%, five-tenths of a percentage point higher than the number posted for the first quarter of 2014 (0.4%). This was the second year-on-year positive figure after nine negative rates for the Basque economy. The year-on-year variation for the Spanish economy stood at 1.2%.

This year-on-year growth for the second quarter of 2014 was underpinned by a relatively better evolution both in industry and services, with construction still experiencing sluggish levels.

Employment, measured as full-time equivalent jobs, posted a quarter-on-quarter increase of 0.5%. In the same way, the year-on-year employment rate increased in the second quarter by 0.1%, with this being the first growth that has been registered since the second quarter of 2008.

For further information:

Eustat - Euskal Estatistika Erakundea / Instituto Vasco de Estadística C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tlf: 945 01 75 62 Further press releases on the Advance Quarterly Economic Account of the Basque Country (ACET) Advance Quarterly Economic Account of the Basque Country (ACET) databank