Press Release 29/01/2015
The GDP of the Basque Country registered a 0.6% quarter-on-quarter growth in the fourth quarter of 2014
The year-on-year rate for the last quarter reached 1.7% while over 2014 as a whole GDP grew by 1.1%
The Gross Domestic Product (GDP) of the Basque Country posted a growth of 0.6% in the fourth quarter of 2014 with respect to the previous quarter, once corrected for calendar and seasonal effects, according to the advance data prepared by EUSTAT. This increase is two-tenths of a percentage point higher than that achieved the previous quarter and it is the sixth consecutive quarter of positive rates.
Compared to the same quarter of the previous year, the variation rate was 1.7%, a growth four-tenths of a percentage point higher than that of the third quarter of 2014.
From the perspective of supply, the year-on-year growth of the fourth quarter of 2014 was underpinned, above all, by a better evolution of the services sector.
Employment, measured as full-time equivalent jobs, posted a quarter-on-quarter increase of 0.5%, four tenths more than that of the third quarter. In year-on-year terms it rose by 1.0% during this fourth quarter, the third consecutive positive year-on-year rate registered in 2014. This rate is five tenths higher than that registered the previous quarter.
Over 2014 as a whole, the first estimate of GDP points to a 1.1% positive growth after two consecutive years of decline. Employment also posted a positive variation for the first time since 2008, after five years of negative rates, estimated at 0.3%.
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