04 May

Gross Domestic Product (Spain) registers a quarterly variation of 0.7% in the first quarter of 2018

Gross Domestic Product (GDP) generated in the Spanish economy registered a variation of 0.7% in the first quarter of 2018 as compared with the previous quarter2, according to the Quarterly GDP Flash Estimate. This rate is similar to that registered in the previous quarter, according to the last figures presented by the Spanish Statistical Office (INE in Spanish).

The annual variation of the GDP in the first quarter of 2018 stood at 2.9%, rate two tenths lower than that registered in the fourth quarter of the previous year.

Methodological note

The Quarterly GDP Flash Estimate uses the same methodology as that applied in the compilation of the complete estimate, albeit in a simplified framework. In addition, advanced techniques of time series modelling are applied, both to complete the data of the reference period as well as to validate the estimates.

With the Quarterly GDP Flash Estimate adjusted for seasonal and calendar effects of the European Union countries (EU), the European Statistical Office (Eurostat) prepares the Quarterly GDP Flash estimate of the EU and of the Economic and Monetary Union. Obtaining this estimate responds to the need to have timely indicators to analyse the economic behaviour.

The Quarterly GDP Flash Estimate is prepared using the information relating to the reference quarter available to date and, therefore, it may not correspond with the data provided by the

Quarterly National Accounts of Spain a few weeks later. In this sense, it is recalled that the INE will publish next 1 March the complete tables and charts of the Quarterly National Accounts of Spain corresponding to the fourth quarter of 2017.

Remember that if you are thinking about forming a company in Spain, or if you have workers in Spain, don´t hesitate to contact our team of experts.

By: Estela Martín

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