Spain GDP 1Q2014

by Eduardo Petazze
In Spain 1Q2014 GDP grew +0.37% Q/Q (+0.81% Y/Y), the first quarter of yoy growth after 9 quarters of contraction
GDP growth for 2014 is not yet secured.
INE Spain released GDP data for the 1st. quarter of 2014 (pdf, 9 pages)

Summary
Gross data
2012
1,027,374
23,206
163,419
126,304
86,537
678,046
232,021
44,216
47,172
70,380
73,605
176,068
34,029
76,158
564
2012
1,027,374
787,987
566,173
10,130
211,527
218,097
212,767
5,330
318,359
220,497
98,332
299,803
235,803
64,486
2,734
2012
-1.64%
-10.87%
-0.47%
-1.12%
-8.56%
-0.25%
0.51%
0.91%
-2.80%
1.09%
-1.89%
-0.54%
-1.74%
-4.93%
Own estimate
2012
-1.64%
-3.32%
-2.84%
-0.17%
-4.79%
-6.85%
-7.02%
2.11%
2.36%
1.56%
-5.70%
-7.15%
-0.22%
Last data

2013
2014
1,014,813 1,015,131
23,465
24,200
161,377
161,754
125,229
126,685
79,855
73,036
674,540
677,624
231,634
234,408
44,068
44,163
45,634
45,095
70,210
70,091
73,589
73,997
174,938
174,718
33,723
34,250
75,211
76,865
1,110
2,555
2013
2014
1,014,813 1,015,131
771,405
772,640
554,365
555,458
10,122
10,087
206,743
206,975
206,809
200,334
201,968
195,605
4,842
4,729
333,908
349,918
236,295
247,113
98,280
103,734
300,945
312,213
239,456
250,734
62,082
62,212
3,637
4,451
2013
2014
-1.22%
0.03%
1.12%
3.13%
-1.25%
0.23%
-0.85%
1.16%
-7.72%
-8.54%
-0.52%
0.46%
-0.17%
1.20%
-0.33%
0.22%
-3.26%
-1.18%
-0.24%
-0.17%
-0.02%
0.55%
-0.64%
-0.13%
-0.90%
1.56%
-1.24%
2.20%
2013
-1.22%
-2.10%
-2.09%
-0.08%
-2.26%
-5.18%
-5.08%

2014
0.03%
0.16%
0.20%
-0.35%
0.11%
-3.13%
-3.15%

4.88%
7.16%
-0.05%
0.38%
1.55%
-3.73%

4.79%
4.58%
5.55%
3.74%
4.71%
0.21%

Million (2008) euros NSA

GDP
Agriculture,
Industry
Manufacturing industry
Construction
Services
Trade, transport and accommodation
Information and communications
Financial and insurance activities
Real estate activities
Professional activities
Administration, Health and Education
Artistic, recreational and other
Taxes less subsidies on products
Residual
Million (2008) euros NSA
GDP
Final consumption expenditure
Household
NPISHs
by government
Gross capital formation
Gross fixed capital formation (GFCF)
Changes in inventories and acq.....
Exports of goods and services
Exports of goods
Exports of services
Imports of goods and services
Imports of goods
Imports of services
Residual
Y/Y
GDP
Agriculture,
Industry
Manufacturing industry
Construction
Services
Trade, transport and accommodation
Information and communications
Financial and insurance activities
Real estate activities
Professional activities
Administration, Health and Education
Artistic, recreational and other
Taxes less subsidies on products

2013Q1
246,462
4,739
39,658
31,058
18,200
162,469
55,631
10,639
11,968
15,948
17,546
42,315
8,460
20,915
444
2013Q1
246,462
195,362
144,182
2,557
48,278
46,503
46,682
-179
75,012
55,588
19,660
71,658
56,083
15,681
1,243
2013Q1
-2.54%
-4.98%
-3.38%
-3.33%
-7.89%
-1.73%
-2.45%
-1.82%
-4.53%
-1.01%
-1.61%
-0.11%
-3.03%
-2.48%

2013Q2
259,774
6,775
40,653
31,685
21,168
172,803
59,584
11,524
11,216
18,903
18,524
44,245
8,461
18,428
292
2013Q2
259,774
187,568
133,122
2,447
52,090
61,584
54,934
6,650
87,245
62,057
25,373
76,716
61,528
15,357
92
2013Q2
-1.66%
2.66%
-1.78%
-0.71%
-8.46%
-1.06%
-0.64%
0.93%
-4.52%
-0.63%
-0.80%
-1.82%
-0.18%
-0.69%

Million (2008) euros NSA

GDP
Final consumption expenditure
Household
NPISHs
by government
Gross capital formation
Gross fixed capital formation (GFCF)
Changes in inventories and acq.....
Exports of goods and services
Exports of goods
Exports of services
Imports of goods and services
Imports of goods
Imports of services

2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4

-2.54% -1.66% -0.56% -0.14% 0.81% 0.29% -0.58% -0.39%
-4.08% -3.20% -0.74% -0.33% 1.54% 0.65% -0.75% -0.79%
-4.81% -3.17% -1.20% 1.05% 1.99% 0.75% -0.53% -1.45%
-1.23% -0.54% 0.35% 1.00% 0.72% -0.81% -0.90% -0.48%
-2.28% -3.29% 0.50% -3.66% 0.10% 0.52% -1.30%
1.00%
-7.21% -5.40% -6.15% -2.07% -0.94% -2.21% -3.67% -5.68%
-7.08% -5.54% -5.44% -2.36% -0.80% -1.99% -4.23% -5.47%
2.51% 10.13%
3.89% 14.37%
-1.10% 1.28%
-4.36% 3.63%
-4.92% 5.14%
-2.39% -1.79%

2013Q3
247,119
4,724
39,251
29,988
19,028
166,866
57,740
10,657
10,713
16,959
17,928
43,726
8,884
17,264
245
2013Q3
247,119
187,815
135,377
2,170
50,211
46,553
47,867
-1,314
89,620
58,979
30,667
78,022
62,745
15,456
1,153
2013Q3
-0.56%
-0.13%
0.28%
-0.08%
-7.68%
0.10%
1.07%
-0.66%
-1.35%
-0.22%
0.23%
-0.34%
-0.79%
-0.42%

3.67%
6.81%
-1.68%
0.52%
2.31%
-5.90%

2013Q4
261,458
7,227
41,815
32,499
21,458
172,402
58,678
11,247
11,737
18,399
19,591
44,652
7,919
18,605
128
2013Q4
261,458
200,660
141,684
2,947
56,165
52,169
52,485
-316
82,031
59,671
22,580
74,550
59,100
15,588
1,148
2013Q4
-0.14%
4.91%
-0.07%
0.76%
-6.87%
0.60%
1.35%
0.13%
-2.44%
0.83%
1.97%
-0.26%
0.56%
-1.14%

2014Q1
248,449
5,084
40,046
31,728
16,808
163,898
56,633
10,660
11,829
16,027
17,766
42,352
8,660
21,672
912
2014Q1
248,449
198,364
147,054
2,576
48,328
46,066
46,309
-243
80,713
59,516
21,513
78,131
62,356
15,943
1,437
2014Q1
0.81%
7.28%
0.98%
2.16%
-7.65%
0.88%
1.80%
0.19%
-1.16%
0.50%
1.26%
0.09%
2.36%
3.62%

3.16% 7.60%
3.76% 7.07%
1.66% 9.43%
1.80% 9.03%
3.75% 11.19%
-4.71% 1.67%

2014Q2
260,540
7,110
40,636
31,940
19,603
173,873
60,352
11,442
11,022
18,805
18,782
44,488
8,657
19,053
590
2014Q2
260,540
188,785
134,117
2,427
52,360
60,222
53,840
6,382
90,506
63,810
26,905
79,961
64,857
15,347
989
2014Q2
0.29%
4.94%
-0.04%
0.81%
-7.39%
0.62%
1.29%
-0.71%
-1.73%
-0.52%
1.39%
0.55%
2.31%
3.39%

3.74%
2.83%
6.04%
4.23%
5.41%
-0.06%

2014Q3
245,695
4,870
39,062
30,193
17,330
166,995
57,963
10,814
10,703
16,878
17,875
43,493
8,947
17,397
364
2014Q3
245,695
186,409
134,661
2,151
49,560
44,843
45,841
-998
93,054
60,913
32,019
78,598
63,154
15,618
-13
2014Q3
-0.58%
3.10%
-0.48%
0.68%
-8.93%
0.08%
0.39%
1.47%
-0.09%
-0.48%
-0.30%
-0.53%
0.72%
0.77%

3.83%
3.28%
4.41%
0.74%
0.65%
1.05%

2014Q4
260,448
7,137
42,011
32,824
19,295
172,858
59,460
11,246
11,541
18,381
19,574
44,384
7,987
18,743
690
2014Q4
260,448
199,083
139,626
2,933
56,727
49,203
49,615
-412
85,645
62,874
23,296
75,523
60,366
15,304
2,039
2014Q4
-0.39%
-1.26%
0.47%
1.00%
-10.08%
0.26%
1.33%
-0.01%
-1.67%
-0.10%
-0.09%
-0.60%
0.86%
0.74%

4.41%
5.37%
3.17%
1.30%
2.14%
-1.82%

Seasonally adjusted data

Million (2008) euros SAWD
GDP
Agriculture,
Industry
Manufacturing industry
Construction
Services
Trade, transport and accommodation
Information and communications
Financial and insurance activities
Real estate activities
Professional activities
Administration, Health and Education
Artistic, recreational and other
Taxes less subsidies on products
Residual
Million (2008) euros SAWD
GDP
Final consumption expenditure
Household
NPISHs
by government
Gross capital formation
Gross fixed capital formation (GFCF)
Changes in inventories and acq.....
Exports of goods and services
Exports of goods
Exports of services
Imports of goods and services
Imports of goods
Imports of services
Residual
Last data
Q/Q
GDP
Agriculture,
Industry
Manufacturing industry
Construction
Services
Trade, transport and accommodation
Information and communications
Financial and insurance activities
Real estate activities
Professional activities
Administration, Health and Education
Artistic, recreational and other
Taxes less subsidies on products
Million (2008) euros SAWD
GDP
Final consumption expenditure
Household
NPISHs
by government
Gross capital formation
Gross fixed capital formation (GFCF)
Exports of goods and services
Exports of goods
Exports of services
Imports of goods and services
Imports of goods
Imports of services
Own estimate

2012Q1
258,794
6,042
41,079
31,958
22,357
169,989
58,570
11,103
12,158
17,332
18,440
43,587
8,730
19,349
49
2012Q1
258,794
200,313
144,021
2,518
53,732
56,232
54,912
1,320
76,642
52,864
23,884
74,964
59,192
15,902
571

2012Q2
257,512
5,657
41,138
31,753
21,693
169,780
58,000
11,081
12,172
17,574
18,246
44,165
8,467
19,219
100
2012Q2
257,512
198,633
142,336
2,552
53,718
54,426
53,095
1,330
77,071
52,800
24,364
73,337
57,129
16,305
719

2012Q3
256,522
5,751
40,835
31,619
21,299
169,765
58,173
10,987
11,405
17,806
18,593
44,128
8,448
18,866
230
2012Q3
256,522
196,005
141,299
2,543
52,107
54,528
53,178
1,350
82,061
56,779
25,401
76,730
60,760
16,111
658

2012Q4
254,547
5,757
40,368
30,974
21,189
168,512
57,278
11,045
11,437
17,667
18,326
44,190
8,384
18,723
185
2012Q4
254,547
193,036
138,516
2,518
51,969
52,912
51,583
1,329
82,585
58,055
24,683
74,772
58,722
16,168
786

2013Q1
253,752
5,792
40,056
31,146
20,781
168,104
57,431
11,022
11,707
17,276
18,301
43,764
8,495
18,962
165
2013Q1
253,752
192,931
137,963
2,493
52,489
52,245
50,946
1,299
78,891
55,305
23,726
71,309
55,900
15,518
994

2013Q2
253,409
5,879
40,289
31,387
19,889
168,202
57,900
11,193
11,673
17,467
18,118
43,291
8,416
19,027
268
2013Q2
253,409
192,516
138,061
2,542
51,892
51,173
49,995
1,178
84,428
59,991
24,614
75,653
59,785
16,001
945

2013Q3
253,604
5,802
40,523
31,357
19,635
168,818
58,301
10,815
11,094
17,690
18,494
43,769
8,389
18,722
369
2013Q3
253,604
193,557
138,802
2,546
52,188
51,454
50,342
1,112
84,954
60,451
24,684
77,209
62,270
15,123
848

2013Q4
254,047
5,991
40,509
31,340
19,549
169,417
58,003
11,038
11,159
17,777
18,675
44,115
8,423
18,500
308
2013Q4
254,047
192,401
139,540
2,541
50,174
51,936
50,684
1,252
85,635
60,548
25,256
76,774
61,501
15,440
850

2014Q1
254,982
6,186
40,325
31,667
19,042
169,530
58,444
11,017
11,451
17,404
18,526
43,866
8,628
19,583
510
2014Q1
254,982
195,096
140,150
2,512
52,396
51,604
50,364
1,241
85,320
59,501
25,933
77,938
62,437
15,685
899

2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1

-0.43% -0.50% -0.38% -0.77% -0.31% -0.14%
0.08%
0.17%
0.37%
-8.36% -6.37%
1.67%
0.10%
0.62%
1.49% -1.30%
3.26%
3.25%
2.13%
0.14% -0.74% -1.14% -0.77%
0.58%
0.58% -0.03% -0.45%
3.30% -0.64% -0.42% -2.04%
0.55%
0.77% -0.09% -0.05%
1.04%
-2.65% -2.97% -1.82% -0.51% -1.92% -4.30% -1.27% -0.44% -2.59%
-0.26% -0.12% -0.01% -0.74% -0.24%
0.06%
0.37%
0.36%
0.07%
1.78% -0.97%
0.30% -1.54%
0.27%
0.82%
0.69% -0.51%
0.76%
0.99% -0.19% -0.85%
0.52% -0.21%
1.56% -3.38%
2.07% -0.20%
-1.02%
0.12% -6.30%
0.28%
2.36% -0.29% -4.96%
0.59%
2.62%
-0.86%
1.40%
1.32% -0.78% -2.21%
1.11%
1.27%
0.50% -2.10%
-1.63% -1.05%
1.90% -1.43% -0.14% -1.00%
2.07%
0.97% -0.79%
-2.47%
1.33% -0.08%
0.14% -0.96% -1.08%
1.10%
0.79% -0.57%
0.99% -3.01% -0.22% -0.75%
1.32% -0.94% -0.32%
0.40%
2.43%
-1.93% -0.67% -1.84% -0.76%
1.28%
0.34% -1.60% -1.19%
5.86%
2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1
-0.43% -0.50% -0.38% -0.77% -0.31% -0.14%
0.08%
0.17%
0.37%
-0.30% -0.84% -1.32% -1.51% -0.05% -0.22%
0.54% -0.60%
1.40%
0.26% -1.17% -0.73% -1.97% -0.40%
0.07%
0.54%
0.53%
0.44%
-0.19%
1.33% -0.36% -0.98% -0.96%
1.93%
0.17% -0.21% -1.11%
-1.80% -0.03% -3.00% -0.27%
1.00% -1.14%
0.57% -3.86%
4.43%
-1.44% -3.21%
0.19% -2.96% -1.26% -2.05%
0.55%
0.94% -0.64%
-1.70% -3.31%
0.16% -3.00% -1.23% -1.87%
0.69%
0.68% -0.63%
-3.14%
0.56%
6.47%
0.64% -4.47%
7.02%
0.62%
0.80% -0.37%
-3.00% -0.12%
7.54%
2.25% -4.74%
8.47%
0.77%
0.16% -1.73%
-3.43%
2.01%
4.25% -2.83% -3.88%
3.74%
0.29%
2.31%
2.68%
-3.28% -2.17%
4.63% -2.55% -4.63%
6.09%
2.06% -0.56%
1.52%
-4.16% -3.49%
6.36% -3.35% -4.81%
6.95%
4.16% -1.24%
1.52%
0.04%
2.53% -1.19%
0.35% -4.02%
3.11% -5.49%
2.10%
1.59%