Andalusian GDP grows 0.5% in the first quarter of 2010, thanks to exports and public spending.
The regional economy has shown in the first quarter of 2010 signals the start of a "recovery process", according to data collected on the number 79 of the Journal of Economic Situation of Andalusia, prepared by the Ministry of Economy, Innovation and Science which requires that the Andalusian GDP grew in the first three months by 0.5 percent QoQ and I consider this growth as pillars of "good performance, ffxiv gil, of exports and final consumption expenditure of general government and nonprofit institutions profit in the service of households. "
In a memo, the Board stressed that the latest issue of this publication notes that the regional economy, as the major economies of their environment, "presented signs of a recovery process after a fiscal year, marked by economic crisis to all countries around the, stargate worlds naquadah, world. " Furthermore, advances the evolution of some indicators of the second quarter of the year which, according to the publication, reflect the continuation of this path of gradual recovery of the regional economy.
In the first quarter of the year, Andalucia Accounting Quarterly Statistical Institute of Andalusia (IEA) notes that the regional economy has grown again for, fallen earth chips, the first time since the second quarter of 2008, real GDP increased 0.5 percent quarter on quarter, higher than the observed average in Spain (0.1 percent), the Euro and the European Union (0.2 percent in both).
From the point of view of demand, this increase has been explained quarterly, on the one hand, the behavior of the regional final consumption expenditure, most notably the increase made by the Public Administration and Nonprofit Institutions Serving the households (2.9 percent), and, secondly, by the profile recorded in the external sector, with export growth exceeding import.
As the supply side, non-agricultural branches as a whole recover positive growth rates (0.1 per cent QoQ), which is not observed since the first quarter of 2008, based primarily on the increase of 0.4 percent in the industrial sector.
In annual terms, is reduced by half the rate of fall of GDP from -3.1 percent in the fourth quarter of 2009 to -1.5 percent in the first of 2010, similar to the average level national (-1.3 percent) and the lowest decline since the third quarter of 2008 to embark on the path of fall.
The most advanced is called the second quarter of the year compiled by the Journal of Economic Situation marks a continuation of this trend.
Productive Offer
Also, from the standpoint of production supply, and more specifically in the industrial sector, the Survey of Industrial Situation, Ministry of Industry, Tourism and Trade stands at 67.7 percent the degree of utilization of installed capacity industry in Andalucia, greater than the first quarter and almost a point above its average level in 2009.
Beside that, in the construction there is a recovery of housing demand, with increases in housing sales in April and May (2.6 percent on year). For its part, in services turnover grew1.8 percent year on year in May (latest available), based on the branches of commerce and information and communications. Also, tourism, travelers staying at hotels grow in June (1.4 percent on year), for the second consecutive month, mostly foreigners.
On the demand side, particularly underlines the recovery of the external sector since late 2009 shows strong increases in exports abroad. The latest available data, rrring to May, indicate an increase of 37.4 percent year on year, accumulating seven months of increases, and growing faster than imports (27.6 percent). Also, domestic demand retail sales in June increased 1.1 percent year on year, confirming the change of sign shown in the previous month.
Labour market
The Board noted that this more favorable balance of supply and demand production is shifting to the labor market, where it slows down the pace of job destruction. According to the Labour Force Survey (LFS), the employed population is reduced by 2.1 percent in the second quarter of 2010, one point less than the first, below the national average decline (-2.5 percent ), and being the smallest fall in two years.
This decline in occupancy has focused, among others, in men (-4.3 percent) in the private sector (-3.4 percent) in non-agricultural sectors (-2.4 percent) especially the construction, which accounts for nearly 60 percent of the overall reduction in employment in the region, and employees on temporary contracts (-6 percent). In comparison, permanent employment has increased (2.2 percent), women (1.5 percent), agriculture (1.9 percent) in the public sector (3.7 percent) , and the population with university education (5 percent).
This evolution of employment has been accompanied by the maintenance of a "significant" inflow of assets, which grew 1.1 percent year on year, five times more than nationally (0.2 percent), focused exclusively on women (3.2 percent year on year). In absolute terms, the active population rises to record high of 3.9742 million people in Andalucia, 44 200 more than in the second quarter of 2009, above the increase that has been recorded in the whole of the Spanish economy (39 900 new assets).
Despite this increased incorporation of assets, unemployment has increased at a slower rate Andalucia in Spain (10.6 percent and 12.3 percent year on year, respectively), the smallest gain since the third quarter of 2007. Similarly point registered unemployment figures in the offices of INEM. In July, the rate of increase in the number of registered unemployed is 9.9 percent year on year, the lowest since January 2008, and below the national average (10.3 percent). In terms intermonthly, unemployment has been decreasing steadily since April, accounting for 19 708 unemployed in July less than the first.
In the business world in the first five months of the year have been created in Andalucia in net terms (created less dissolved) 4583 corporations, 3.6 percent more than the same period last year.
These results have been produced in a nominal context characterized by maintaining moderate inflation rates,in line with what was observed in all industrialized economies, closed the first half with a CPI increase of 1.5 percent year on year in June, exceeding the national average and less than four tenths to the EU (1.9 percent).