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CSO statistical release, 11 December 2014, 11am

Quarterly National Accounts

Quarter 3 2014

             GDP and GNP (seasonally adjusted) at constant (2012) prices
 Q3 2014         Q3 2014
    Amount €mQuarterly % change
GDP45,4460.1
GNP38,1000.5

GDP flat and GNP up 0.5 per cent on a seasonally adjusted basis in Q3 2014

Figure 1 Seasonally Adjusted growth rates(% change on previous quarter)

Preliminary estimates for the third quarter of 2014 indicate that GDP remained practically unchanged in volume terms on a seasonally adjusted basis compared with the second quarter of 2014 while GNP increased by 0.5 per cent over the same period.

Value added changes in business sectors 

On the output side of the accounts (Table 4), Other Services increased by 1.7 per cent and Building and construction increased by 3 per cent in volume terms between Q2 2014 and Q3 2014. Distribution, transport, software and communication decreased by 0.2 per cent and Industry (excluding Building and Construction) decreased by 0.8 per cent in volume terms on a seasonally adjusted basis over the same period. Public administration and defence also decreased by 5.6 per cent in this period.

Capital Investment and Net Exports increase

On the expenditure side of the accounts (Table 6), Capital Investment decreased by 0.8 per cent in volume terms on a seasonally adjusted basis between Q2 2014 and Q3 2014 and Net exports made a small negative contribution of €55m. Government expenditure decreased by 0.9 per cent quarter on quarter while Personal expenditure was unchanged.

 

Note that the Nace Rev. 2 classification system is now being used in tables 1 and 4. This replaces the national classification used in previous releases. See the notes at the back for further details.

The calculation methods for quarterly accounts are similar to those used in the annual National Income and Expenditure. As some of the available sources are of lesser reliability than those used for the annual national accounts, the quarterly estimates are subject to a greater margin of error than the annual figures. These preliminary estimates will therefore be revised when the next detailed annual results are published.

Comparisons with Q3 2013

On the output side of the accounts gross value added in Agriculture, forestry and fishing decreased by 1.6 percent while Distribution, transport, software and communication increased by 6.4 per cent in Q3 2014 compared with the same quarter of 2013. Industry (including Building and construction) increased by 2 per cent over this period, while Other services increased by 3.7 per cent in Q3 2014.

 
On the expenditure side, Capital investment rose by 7.8 per cent. Government expenditure decreased by 1.4 per cent while  Personal expenditure remained unchanged compared to Q3 2013. Net exports were €1,536m higher in the third quarter of 2014 compared with the corresponding quarter of 2013.

Factor income outflows were €636m higher in Q3 2014 compared with Q3 2013 resulting in the 3.5 per cent increase in GDP becoming a 2.5 per cent increase in GNP over the same period.

Table 1 Gross Domestic Product by Sector of Origin and Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2012)*
(Note the sectors here are based on Nace rev 2. For further details see the methodology notes at the back)€million
PeriodAgric. Forestry and fishingIndustryof which Building and constructionDist. Transport software and comms.Public admin. and defenceOther services (including rent) GDP at constant factor cost   Taxes less subsidiesGDP at constant market costNet factor income from rest of worldGNP at constant market prices
 
 
 
20084,32346,8586,34543,3797,85964,429 160,64920,197180,593-27,968152,149
20094,06741,8454,61340,7737,43563,030 153,28615,852169,088-30,394138,784
20103,97742,2853,40240,6926,98563,377 153,13815,512168,622-27,759140,781
20113,95443,3282,91640,5356,63264,007 158,25915,051173,297-33,662139,717
20123,79842,3062,74040,9586,46265,709 157,50615,249172,755-31,526141,229
20134,00841,7063,06538,8396,31967,274 156,83116,223173,055-27,125145,929
2008            
Q11,17412,5151,69013,9311,87115,904 41,8816,09847,847-6,86940,774
Q21,49412,5451,5749,5671,98315,935 40,6314,24544,882-7,21837,584
Q399011,4821,6169,8812,01516,341 39,4045,80845,079-7,88137,209
Q466610,3171,4649,9991,99016,249 38,7324,04742,785-6,00036,582
2009            
Q11,11311,5511,26510,0781,81715,633 38,8254,25843,054-7,55135,502
Q21,47511,3961,14610,0431,85615,619 39,4123,21642,676-8,03834,707
Q38469,6471,14010,4991,87315,902 37,4994,74942,168-8,10034,157
Q46339,2511,06210,1531,88915,877 37,5513,62941,189-6,70534,417
2010            
Q193211,3468299,9231,71715,565 38,1104,07842,170-8,00534,215
Q21,25610,9848409,8721,75015,734 38,8543,06841,948-7,82634,163
Q31,0119,88489210,5641,76215,890 38,1384,78842,884-6,96035,897
Q477910,07184210,3331,75616,188 38,0363,57841,620-4,96736,505
2011            
Q190411,13575510,0251,60715,367 38,0364,16442,187-8,21133,996
Q21,26511,35172610,0671,65416,056 40,7862,89943,700-8,78634,944
Q31,01310,35673410,1101,66916,188 39,4994,41043,894-8,55135,364
Q477210,48670010,3331,70116,396 39,9383,57843,517-8,11435,412
2012            
Q194811,3736309,8951,55015,964 38,4484,12842,567-8,79633,812
Q21,29311,9066569,4991,60416,100 39,5772,98542,583-7,89534,693
Q38889,77571010,7381,62816,698 38,9504,67943,607-7,80435,797
Q46699,25374410,8261,68016,947 40,5313,45643,998-7,03136,927
2013            
Q193711,2246689,0541,52616,423 38,3414,33842,679-6,94635,733
Q21,25511,1477239,2901,57416,400 39,2533,23142,484-7,86434,620
Q31,00510,08383410,1811,59216,998 39,5094,89144,400-6,81637,585
Q48109,25184010,3141,62717,453 39,7293,76343,491-5,50037,991
2014            
Q197210,66673310,0201,58217,056 39,5784,81344,391-7,48636,905
Q21,41111,86879210,3551,63316,842 41,8173,77145,587-8,02137,567
Q398910,28189510,8321,57217,622 40,8685,10345,972-7,45238,520
Percentage change on corresponding period of previous year 
2008-2.4-6.3-5.8-2.66.61.3 -1.3-12.9-2.6 -2.3
2009-5.9-10.7-27.3-6.0-5.4-2.2 -4.6-21.5-6.4 -8.8
2010-2.21.1-26.2-0.2-6.00.6 -0.1-2.1-0.3 1.4
2011-0.62.5-14.3-0.4-5.11.0 3.3-3.02.8 -0.8
2012-3.9-2.4-6.01.0-2.62.7 -0.51.3-0.3 1.1
20135.5-1.411.9-5.2-2.22.4 -0.46.40.2 3.3
2008            
Q1-3.4 -3.4 -2.2 24.47.22.4 3.5-9.0 1.8 3.7
Q2-7.3 0.5-2.0 -14.2 7.82.5 -1.1 -15.0 -2.5  -1.4
Q38.9-4.2 -4.5 -8.6 6.01.4 0.7-8.7 -0.5  -3.6
Q4-4.3 -17.9 -14.2 -12.3 5.6-0.8  -7.8 -21.4 -9.2  -7.7
2009            
Q1-5.2 -7.7 -25.2 -27.7 -2.9 -1.7  -7.3 -30.2 -10.0  -12.9
Q2-1.3 -9.2 -27.2 5.0-6.4 -2.0  -3.0 -24.2 -4.9  -7.7
Q3-14.6 -16.0 -29.5 6.2-7.0 -2.7  -4.8 -18.2 -6.5  -8.2
Q4-4.9 -10.3 -27.5 1.5-5.1 -2.3  -3.1 -10.3 -3.7  -5.9
2010            
Q1-16.3 -1.8 -34.5 -1.5 -5.5 -0.4  -1.8 -4.2 -2.1  -3.6
Q2-14.8 -3.6 -26.7 -1.7 -5.8 0.7 -1.4 -4.6 -1.7  -1.6
Q319.52.5-21.8 0.6-5.9 -0.1  1.70.81.7 5.1
Q423.08.9-20.7 1.8-7.0 2.0 1.3-1.4 1.0 6.1
2011            
Q1-3.0 -1.9 -8.9 1.0-6.4 -1.3  -0.2 2.10.0 -0.6
Q20.73.3-13.5 2.0-5.4 2.0 5.0-5.5 4.2 2.3
Q30.24.8-17.6 -4.3 -5.3 1.9 3.6-7.9 2.4 -1.5
Q4-0.8 4.1-16.8 -0.0 -3.2 1.3 5.00.04.6 -3.0
2012            
Q14.92.1-16.6 -1.3 -3.6 3.9 1.1-0.9 0.9 -0.5
Q22.24.9-9.6 -5.6 -3.1 0.3 -3.0 3.0-2.6  -0.7
Q3-12.3 -5.6 -3.3 6.2-2.5 3.1 -1.4 6.1-0.7  1.2
Q4-13.3 -11.8 6.24.8-1.2 3.4 1.5-3.4 1.1 4.3
2013            
Q1-1.1 -1.3 6.1-8.5 -1.6 2.9 -0.3 5.10.3 5.7
Q2-3.0 -6.4 10.1-2.2 -1.9 1.9 -0.8 8.2-0.2  -0.2
Q313.33.217.4-5.2 -2.2 1.8 1.44.51.8 5.0
Q421.1-0.0 13.0-4.7 -3.2 3.0 -2.0 8.9-1.2  2.9
2014            
Q13.7-5.0 9.610.73.73.9 3.210.94.0 3.3
Q212.46.59.511.53.72.7 6.516.77.3 8.5
Q3-1.6 2.07.36.4-1.3 3.7 3.44.33.5 2.5
*Chain linked series not additive   
Table 2 Expenditure on Gross National Product at Current Market Prices  
          €million
PeriodPersonal consumption of goods and servicesNet exp. by central and local government on current goods and servicesGross domestic fixed capital formationValue of physical changes in stocksExports of goods and servicesImports of goods and servicesStatistical discrepancyGDP at current market pricesNet factor income from the rest of the worldGNP at current market prices
           
200894,71230,77545,221-330150,180-133,876189186,870-25,837161,033
200983,56529,65033,082-1,490146,363-121,555-1,501168,114-28,517139,597
201082,44726,43726,106-569157,811-129,0231,719164,928-26,425138,503
201182,96926,11124,841780167,086-132,3981,654171,042-32,127138,915
201282,46725,92226,923288182,506-147,0791,728172,755-31,526141,229
201383,33425,95626,541837184,056-147,6941,761174,791-27,286147,506
2008          
Q123,8067,54913,930-39036,630-33,6874847,886-6,28341,603
Q223,1077,62810,83552937,773-33,3324746,588-6,56340,025
Q323,2547,63511,093-2737,016-32,4574746,562-7,29539,267
Q424,5447,9619,363-44238,762-34,4004645,835-5,69640,139
2009          
Q121,0447,7809,295-56836,511-30,821-38342,859-7,16435,695
Q220,4297,2088,4491437,697-30,618-38242,797-7,58935,208
Q320,2137,2067,082-43035,783-28,083-37041,402-7,56233,840
Q421,8797,4558,256-50536,373-32,034-36741,056-6,20234,854
2010          
Q120,2196,6976,884-52737,011-29,63842841,074-7,56733,507
Q220,1366,4866,829-10640,218-32,28043541,717-7,51734,200
Q320,3146,4305,78735340,491-31,81543841,997-6,64935,348
Q421,7786,8256,607-28840,090-35,29041840,140-4,69235,448
2011          
Q120,3936,5136,665-31740,446-33,19939540,895-7,85833,037
Q220,3026,5056,47640342,433-33,03442143,504-8,32035,184
Q320,0756,5605,40459941,653-31,46341843,246-8,10035,146
Q422,1996,5346,2969542,555-34,70142043,398-7,84935,549
2012          
Q119,8956,6026,776-57744,488-36,28441341,312-8,68632,626
Q219,9066,4305,68454946,599-37,47542142,113-7,88234,231
Q320,3456,5115,69029045,712-35,56743443,414-7,88035,534
Q422,3226,3808,7732745,708-37,75345945,916-7,07838,838
2013          
Q120,0896,4316,61040943,687-35,36742642,285-6,71635,569
Q220,0376,4595,83024047,498-37,43643443,061-8,03535,026
Q320,6236,4756,23579845,882-35,77945044,684-6,93937,745
Q422,5866,5917,866-61046,988-39,11145144,761-5,59639,165
2014          
Q120,5576,3657,13549346,669-37,68944343,974-7,19436,780
Q220,6306,3967,1098553,122-41,94946245,855-7,72638,129
Q320,9496,4806,83453353,069-41,55047146,787-7,23739,550
Percentage change on corresponding period of previous year
20081.75.2-16.8 -1.5-0.8 -5.0 -5.0 
2009-11.8-3.7-26.8 -2.5-9.2 -10.0 -13.3 
2010-1.3-10.8-21.1 7.86.1 -1.9 -0.8 
20110.6-1.2-4.8 5.92.6 3.7 0.3 
2012-0.6-0.78.4 9.211.1 1.0 1.7 
20131.10.1-1.4 0.80.4 1.2 4.4 
2008           
Q16.46.3-11.4 -0.72.5 -3.6 -1.7 
Q21.96.4-18.6 -1.91.0 -5.8 -4.8 
Q31.13.6-9.1 -1.6-1.4 -1.2 -4.3 
Q4-2.14.5-28.5 -1.7-5.0 -9.2 -8.9 
            
2009           
Q1-11.63.1-33.3 -0.3-8.5 -10.5 -14.2 
Q2-11.6-5.5-22.0 -0.2-8.1 -8.1 -12.0 
Q3-13.1-5.6-36.2 -3.3-13.5 -11.1 -13.8 
Q4-10.9-6.4-11.8 -6.2-6.9 -10.4 -13.2 
            
2010           
Q1-3.9-13.9-25.9 1.4-3.8 -4.2 -6.1 
Q2-1.4-10.0-19.2 6.75.4 -2.5 -2.9 
Q30.5-10.8-18.3 13.213.3 1.4 4.5 
Q4-0.5-8.5-20.0 10.210.2 -2.2 1.7 
            
2011           
Q10.9-2.7-3.2 9.312.0 -0.4 -1.4 
Q20.80.3-5.2 5.52.3 4.3 2.9 
Q3-1.22.0-6.6 2.9-1.1 3.0 -0.6 
Q41.9-4.3-4.7 6.1-1.7 8.1 0.3 
            
2012           
Q1-2.41.41.7 10.09.3 1.0 -1.2 
Q2-1.9-1.2-12.2 9.813.4 -3.2 -2.7 
Q31.3-0.75.3 9.713.0 0.4 1.1 
Q40.6-2.339.3 7.48.8 5.8 9.3 
            
2013           
Q11.0-2.6 -2.5  -1.8 -2.5 2.4 9.0 
Q20.70.52.6 1.9-0.1 2.3 2.3 
Q31.4-0.5 9.6 0.40.6 2.9 6.2
Q41.23.3-10.3  2.83.6 -2.5  0.8
2014
Q12.3-1.0 7.9 6.86.6 4.0 3.4
Q23.0-1.0 21.9 11.812.1 6.5 8.9
Q31.60.19.6 15.716.1 4.7 4.8
Table 3 Expenditure on Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2012)*
         €million
PeriodPersonal consumption of goods and servicesNet exp. by central and local government on current goods and servicesGross domestic fixed capital formationValue of physical changes in stocksExports of goods and servicesImports of goods and servicesGDP at constant market pricesNet factor income from the rest of the worldGNP at constant market prices
200888,40430,21540,535-328162,128-147,917180,593-27,968152,149 
200983,64629,15132,225-1,471155,661-134,360169,088-30,394138,784 
201084,41327,06926,418-577165,266-138,414168,622-27,759140,781 
201183,43426,49025,650782174,329-137,572173,297-33,662139,717 
201282,46725,92226,923288182,506-147,079172,755-31,526141,229 
201381,79726,27326,275861184,565-148,031173,055-27,125145,929
2008         
Q122,3597,47712,248-59639,961-37,57447,847-6,86940,774 
Q221,5487,4859,69981841,443-36,99844,882-7,21837,584 
Q321,7117,44910,0378039,939-35,81445,079-7,88137,209 
Q422,7867,8038,551-63040,785-37,53142,785-6,00036,582 
2009         
Q120,7717,4678,833-57138,284-33,43843,054-7,55135,502 
Q220,4527,3398,1138039,795-33,71242,676-8,03834,707 
Q320,4307,0267,084-48638,276-31,30642,168-8,10034,157 
Q421,9937,3198,195-49439,305-35,90441,189-6,70534,417 
2010         
Q120,7896,8016,887-55338,957-32,17042,170-8,00534,215 
Q220,6706,8486,909-6741,708-34,66341,948-7,82634,163 
Q320,8476,5805,99534842,202-33,96142,884-6,96035,897 
Q422,1076,8396,626-30542,399-37,61941,620-4,96736,505 
2011         
Q120,6996,7626,875-36641,963-34,62042,187-8,21133,996 
Q220,4916,6806,65735844,635-34,57543,700-8,78634,944 
Q320,2286,5115,55763243,768-32,72443,894-8,55135,364 
Q422,0166,5376,56115843,963-35,65443,517-8,11435,412 
2012         
Q120,0346,6026,955-61244,923-36,60542,567-8,79633,813 
Q219,9866,4305,65653746,693-37,55742,583-7,89534,693 
Q320,4126,5115,60128945,290-35,27043,607-7,80435,797 
Q422,0356,3808,7127345,600-37,64843,998-7,03136,927 
2013         
Q119,8736,4476,67349943,912-35,54942,679-6,94635,733
Q219,7456,2975,76428747,384-37,40542,484-7,86434,620
Q320,2696,6996,11578745,952-35,77444,400-6,81637,585
Q421,9106,8307,723-71347,318-39,30343,491-5,50037,991
2014         
Q120,0036,6367,05051447,103-37,63444,391-7,48636,905
Q219,9826,6676,8717453,569-41,86645,587-8,02137,567
Q320,2786,6086,59235153,084-41,37045,972-7,45238,520
Percentage change on corresponding period of previous year 
20080.00.6-9.6 -0.9-2.6-2.6 -2.3 
2009-5.4-3.5-20.5 -4.0-9.2-6.4 -8.8 
20100.9-7.1-18.0 6.23.0-0.3 1.4 
2011-1.2-2.1-2.9 5.5-0.62.8 -0.8 
2012-1.2-2.15.0 4.76.9-0.3 1.1 
2013-0.81.4-2.4 1.10.60.2 3.3
2008         
Q13.61.5-4.7 1.20.81.8 3.7 
Q2-0.22.2-10.6 0.8-0.3-2.5 -1.4 
Q3-0.3-1.2-1.2 -0.7-2.8-0.5 -3.6 
Q4-2.7-0.2-22.2 -4.6-7.5-9.2 -7.7 
2009         
Q1-7.1-0.1-27.9 -4.2-11.0-10.0 -12.9 
Q2-5.1-1.9-16.4 -4.0-8.9-4.9 -7.7 
Q3-5.9-5.7-29.4 -4.2-12.6-6.5 -8.2 
Q4-3.5-6.2-4.2 -3.6-4.3-3.7 -5.9 
2010         
Q10.1-8.9-22.0 1.8-3.8-2.1 -3.6 
Q21.1-6.7-14.8 4.82.8-1.7 -1.6 
Q32.0-6.3-15.4 10.38.51.7 5.1 
Q40.5-6.6-19.1 7.94.81.0 6.1 
2011         
Q1-0.4-0.6-0.2 7.77.60.0 -0.6 
Q2-0.9-2.5-3.6 7.0-0.34.2 2.3 
Q3-3.0-1.1-7.3 3.7-3.62.4 -1.5 
Q4-0.4-4.4-1.0 3.7-5.24.6 -3.0 
2012         
Q1-3.2-2.41.2 7.15.70.9 -0.5 
Q2-2.5-3.8-15.0 4.68.6-2.6 -0.7 
Q30.9-0.00.8 3.57.8-0.7 1.2 
Q40.1-2.432.8 3.75.61.1 4.3 
2013         
Q1-0.8-2.3-4.1 -2.3-2.90.3 5.7
Q2-1.2-2.11.9 1.5-0.4-0.2 -0.2
Q3-0.72.99.2 1.51.41.8 5.0
Q4-0.67.0-11.4 3.84.4-1.2 2.9
2014         
Q10.72.95.6 7.35.94.0 3.3
Q21.25.919.2 13.111.97.3 8.5
Q30.0-1.47.8 15.515.63.5 2.5
*Chain linked series not additive  
Table 4 Gross Value Added at Constant Factor Cost by Sector of Origin and Gross National Product at Constant Market Prices
(Chain linked annually and referenced to year 2012) - Seasonally Adjusted      
 €million
PeriodAgric. Forestry and fishingIndustryof which Building and constructionDist. Transport software and commsPublic admin and defenceOther services (including rent)GDP at constant factor costTaxes less subsidiesGDP at constant market pricesNet factor income from the rest of the worldGNP at constant market prices
2008           
Q11,08412,0721,71713,9921,95716,13641,5265,55747,226-6,65440,499 
Q21,07312,0571,6469,7561,98516,14040,3425,19845,281-6,77138,393 
Q31,11312,0441,5659,7471,97216,18239,9875,02745,016-7,63337,305 
Q41,01810,7491,4239,8901,94015,98138,8444,31943,073-6,96635,929 
2009            
Q11,06311,1471,29310,1671,89915,84238,8273,88042,773-7,21435,751 
Q21,08610,7901,19710,2341,86315,82538,7344,04642,813-7,64235,093 
Q393810,1171,09810,3121,83915,75137,9544,02641,901-7,85434,109 
Q49389,7951,02810,0341,83315,61437,6953,87941,529-7,71633,774 
2010            
Q191310,80285710,0311,79815,78838,1093,76641,884-7,68334,305 
Q291610,38787610,0941,75715,93038,3143,87242,218-7,33834,875 
Q31,06510,38085610,3411,73415,74138,4624,00442,496-6,79535,709 
Q41,05010,79681010,1831,69815,91238,1353,85641,919-5,95135,776 
2011            
Q193310,73579210,2231,67915,55238,7753,80642,589-7,75834,922 
Q293510,47275510,2701,66716,30739,6923,72043,449-8,39034,992 
Q31,04310,8867029,8691,64716,04239,7663,65343,392-8,43935,078 
Q41,02411,37167010,1531,63916,09239,8953,89443,793-9,08634,651 
2012            
Q198410,81866910,0951,62316,18238,9143,80342,710-8,42934,236 
Q298411,0436829,7311,61416,34938,9753,75842,687-7,36535,384 
Q391110,25767510,4741,60816,55039,1243,88643,089-7,76135,436 
Q491310,10970810,6031,61616,60640,4523,80344,216-7,96336,109 
2013            
Q197710,6597179,2511,60016,65938,6354,01542,713-6,63035,939 
Q294610,3147519,5331,58416,66938,9173,96042,771-7,28335,611 
Q31,03410,5557909,9321,57416,84639,6174,10843,868-6,78637,179 
Q41,04710,18179710,0791,56217,07939,6744,14243,682-6,41437,145 
2014            
Q11,03710,29379310,2981,65617,27140,3444,42344,912-7,09637,835 
Q21,07310,78282110,5871,64717,16840,9984,56945,410-7,52437,921 
Q31,02810,73184510,5631,55417,46240,9644,34845,446-7,42038,100 
Percentage change on previous quarter 
2008           
Q1-0.3 -6.3 3.624.36.00.3-0.8 0.8-0.1  4.1
Q2-1.0 -0.1 -4.2 -30.3 1.40.0-2.9 -6.5 -4.1  -5.2
Q33.7-0.1 -4.9 -0.1 -0.6 0.3-0.9 -3.3 -0.6  -2.8
Q4-8.5 -10.7 -9.0 1.5-1.6 -1.2 -2.9 -14.1 -4.3  -3.7
2009           
Q14.43.7-9.1 2.8-2.1 -0.9 -0.0 -10.2 -0.7  -0.5
Q22.1-3.2 -7.4 0.7-1.9 -0.1 -0.2 4.30.1 -1.8
Q3-13.6 -6.2 -8.3 0.8-1.3 -0.5 -2.0 -0.5 -2.1  -2.8
Q4-0.0 -3.2 -6.4 -2.7 -0.3 -0.9 -0.7 -3.7 -0.9  -1.0
2010           
Q1-2.7 10.3-16.7 -0.0 -1.9 1.11.1-2.9 0.9 1.6
Q20.3-3.8 2.30.6-2.3 0.90.52.80.8 1.7
Q316.3-0.1 -2.3 2.4-1.3 -1.2 0.43.40.7 2.4
Q4-1.4 4.0-5.4 -1.5 -2.1 1.1-0.9 -3.7 -1.4  0.2
2011           
Q1-11.2 -0.6 -2.2 0.4-1.1 -2.3 1.7-1.3 1.6 -2.4
Q20.2-2.4 -4.7 0.5-0.7 4.92.4-2.3 2.0 0.2
Q311.63.9-7.1 -3.9 -1.2 -1.6 0.2-1.8 -0.1  0.2
Q4-1.8 4.5-4.5 2.9-0.5 0.30.36.60.9 -1.2
2012           
Q1-3.9 -4.9 -0.2 -0.6 -1.0 0.6-2.5 -2.3 -2.5  -1.2
Q2-0.1 2.12.0-3.6 -0.5 1.00.2-1.2 -0.1  3.4
Q3-7.4 -7.1 -1.0 7.6-0.3 1.20.43.40.9 0.1
Q40.2-1.4 4.81.20.50.33.4-2.1 2.6 1.9
2013           
Q17.05.41.2-12.7 -1.0 0.3-4.5 5.6-3.4  -0.5
Q2-3.2 -3.2 4.83.0-1.0 0.10.7-1.4 0.1 -0.9
Q39.32.35.24.2-0.6 1.11.83.72.6 4.4
Q41.3-3.5 0.91.5-0.7 1.40.10.8-0.4  -0.1
2014
Q1-1.0 1.1-0.4 2.26.01.11.76.82.8 1.9
Q23.44.73.52.8-0.5 -0.6 1.63.31.1 0.2
Q3-4.2 -0.5 3.0-0.2 -5.6 1.7-0.1 -4.8 0.1 0.5
Table 5 Expenditure on Gross National Product at Current Market Prices - Seasonally Adjusted  
         €million
PeriodPersonal consumption of goods and servicesNet exp. by central and local government on current goods and servicesGross domestic fixed capital formationValue of physical changes in stocksExports of goods and servicesImports of goods and servicesGDP at current market pricesNet factor income from the rest of the wrorldGNP at current market prices
2008         
Q123,9317,58013,142-30437,625-34,18547,946-6,13541,855
Q223,6937,72210,94819937,003-33,32546,729-6,13540,664
Q323,7987,69011,96415037,417-33,67746,922-7,31739,776
Q423,2547,7969,121-41438,253-32,63845,238-6,27838,685
2009         
Q121,2787,7968,796-39237,316-31,36443,335-6,88636,527
Q220,9207,2888,515-27936,958-30,59642,670-7,26335,411
Q320,6647,2647,719-44336,110-29,31341,490-7,55234,051
Q420,6527,3127,953-39636,099-30,26940,570-6,83333,558
2010         
Q120,4696,7006,533-31237,816-30,30441,516-7,38534,222
Q220,7026,5596,889-34339,309-32,10341,765-7,05034,740
Q320,7476,4726,37319240,780-33,04641,917-6,64735,345
Q420,4676,7106,249-10340,016-33,56139,685-5,36334,103
2011         
Q120,8516,5216,375-10740,941-33,91941,940-7,47834,597
Q220,7866,5716,58022341,712-32,76143,102-8,00335,114
Q320,4756,5875,95333541,907-32,65942,978-8,11134,953
Q420,7846,4345,87535842,576-33,07642,954-8,54834,163
2012         
Q120,3266,6156,515-43545,069-37,16342,009-8,49533,665
Q220,5036,4955,83844045,744-36,98942,185-7,33034,880
Q320,7296,5176,252-2845,972-36,71343,050-7,91235,218
Q420,8306,2968,09034645,733-36,22045,428-7,79837,260
2013         
Q120,5456,4536,37847544,274-36,36942,836-6,61236,456
Q220,7106,5226,06818646,655-36,81343,411-7,38036,082
Q320,9856,4666,79545946,155-36,84844,229-6,95337,365
Q421,0326,5127,216-24646,938-37,66544,266-6,34637,485
2014         
Q121,1796,4036,89949347,066-38,69345,043-6,92038,453
Q221,2326,4467,4646552,525-41,31345,797-7,23938,624
Q321,2996,4637,41019153,354-42,58446,255-7,21339,125
Percentage change on previous quarter      
2008         
Q10.41.81.9 -2.8 -1.1 -3.6 -1.5
Q2-1.0 1.9-16.7  -1.7 -2.5 -2.5 -2.8
Q30.4-0.4 9.3 1.11.10.4-2.2
Q4-2.3 1.4-23.8  2.2-3.1 -3.6 -2.7
2009         
Q1-8.5 -0.0 -3.6  -2.4 -3.9 -4.2 -5.6
Q2-1.7 -6.5 -3.2  -1.0 -2.4 -1.5 -3.1
Q3-1.2 -0.3 -9.4  -2.3 -4.2 -2.8 -3.8
Q4-0.1 0.73.0 -0.0 3.3-2.2 -1.4
2010         
Q1-0.9 -8.4 -17.9  4.80.12.3 2.0
Q21.1-2.1 5.4 3.95.90.6 1.5
Q30.2-1.3 -7.5  3.72.90.4 1.7
Q4-1.4 3.7-2.0  -1.9 1.6-5.3 -3.5
2011         
Q11.9-2.8 2.0 2.31.15.7 1.4
Q2-0.3 0.83.2 1.9-3.4 2.8 1.5
Q3-1.5 0.2-9.5  0.5-0.3 -0.3  -0.5
Q41.5-2.3 -1.3  1.61.3-0.1  -2.3
2012         
Q1-2.2 2.810.9 5.912.4-2.2  -1.5
Q20.9-1.8 -10.4  1.5-0.5 0.4 3.6
Q31.10.37.1 0.5-0.7 2.1 1.0
Q40.5-3.4 29.4 -0.5 -1.3 5.5 5.8
2013         
Q1-1.4 2.5-21.2  -3.2 0.4-5.7  -2.2
Q20.81.1-4.9  5.41.21.3 -1.0
Q31.3-0.9 12.0 -1.1 0.11.9 3.6
Q40.20.76.2 1.72.20.1 0.3
2014
Q10.7-1.7 -4.4  0.32.71.8 2.6
Q20.20.78.2 11.66.81.7 0.4
Q30.30.3-0.7  1.63.11.0 1.3
Table 6 Expenditure on Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2012) - Seasonally Adjusted
         €million
PeriodPersonal consumption of goods and servicesNet exp. By central and local government on current goods and servicesGross domestic fixed capital formationValue of physical changes in stocksExports of goods and servicesImports of goods and servicesGDP at constant market prices Net factor income from the rest of the worldGNP at constant market prices
2008         
Q122,4857,56211,381-51640,994-38,17647,226-6,65440,499
Q222,0367,5449,91934240,777-37,01045,281-6,77138,393
Q322,1297,53210,81039140,314-37,09545,016-7,63337,305
Q421,6977,5968,391-59640,127-35,60143,073-6,96635,929
2009        
Q121,0177,5288,228-38439,391-34,11742,773-7,21435,751
Q220,9137,3688,262-32538,958-33,63942,813-7,64235,093
Q320,8327,1397,715-42438,525-32,59641,901-7,85434,109
Q420,8177,1417,956-36238,862-34,02241,529-7,71633,774
2010         
Q121,0676,8536,410-34640,017-32,94741,884-7,68334,305
Q221,2076,8457,060-36240,796-34,40742,218-7,33834,875
Q321,2236,6876,61222842,370-35,25842,496-6,79535,709
Q420,8536,7186,311-10042,138-35,83241,919-5,95135,776
2011         
Q121,1596,7436,476-15543,276-35,45642,589-7,75834,922
Q220,9516,7206,81512843,363-34,14143,449-8,39034,992
Q320,5706,5856,14440843,861-34,01743,392-8,43935,078
Q420,7026,4626,14942743,865-34,01343,793-9,08634,651
2012         
Q120,4646,5766,563-49446,202-37,52342,710-8,42934,236
Q220,5636,4715,87340845,352-36,93142,687-7,36535,384
Q320,7266,5546,1942645,368-36,53043,089-7,76135,436
Q420,6736,3178,04937945,584-36,13544,216-7,96336,109
2013         
Q120,3076,4396,31152945,261-36,53142,713-6,63035,939
Q220,3916,3316,07922345,921-36,65342,771-7,28335,611
Q320,5516,7366,71751946,029-36,97043,868-6,78637,179
Q420,5176,7487,080-36947,337-37,90443,682-6,41437,145
2014         
Q120,5776,6366,73048348,739-38,61044,912-7,09637,835
Q220,5416,7107,2672851,801-41,09045,410-7,52437,921
Q320,5366,6517,2109253,176-42,52045,446-7,42038,100
Percentage change on previous quarter       
2008         
Q10.3-0.5 4.5 -2.1 -1.3 -0.1  4.1
Q2-2.0 -0.2 -12.8  -0.5 -3.1 -4.1  -5.2
Q30.4-0.2 9.0 -1.1 0.2-0.6  -2.8
Q4-2.0 0.9-22.4  -0.5 -4.0 -4.3  -3.7
2009         
Q1-3.1 -0.9 -1.9  -1.8 -4.2 -0.7  -0.5
Q2-0.5 -2.1 0.4 -1.1 -1.4 0.1 -1.8
Q3-0.4 -3.1 -6.6  -1.1 -3.1 -2.1  -2.8
Q4-0.1 0.03.1 0.94.4-0.9  -1.0
2010         
Q11.2-4.0 -19.4  3.0-3.2 0.9 1.6
Q20.7-0.1 10.1 1.94.40.8 1.7
Q30.1-2.3 -6.3  3.92.50.7 2.4
Q4-1.7 0.5-4.6  -0.5 1.6-1.4  0.2
2011         
Q11.50.42.6 2.7-1.0 1.6 -2.4
Q2-1.0 -0.3 5.2 0.2-3.7 2.0 0.2
Q3-1.8 -2.0 -9.8  1.1-0.4 -0.1  0.2
Q40.6-1.9 0.1 0.0-0.0 0.9 -1.2
2012         
Q1-1.1 1.86.7 5.310.3-2.5  -1.2
Q20.5-1.6 -10.5  -1.8 -1.6 -0.1  3.4
Q30.81.35.5 0.0-1.1 0.9 0.1
Q4-0.3 -3.6 30.0 0.5-1.1 2.6 1.9
2013         
Q1-1.8 1.9-21.6  -0.7 1.1-3.4  -0.5
Q20.4-1.7 -3.7  1.50.30.1 -0.9
Q30.86.410.5 0.20.92.6 4.4
Q4-0.2 0.25.4 2.82.5-0.4  -0.1
2014
Q10.3-1.7 -4.9  3.01.92.8 1.9
Q2-0.2 1.18.0 6.36.41.1 0.2
Q3-0.0 -0.9 -0.8  2.73.50.1 0.5
Annex 1a - Trade Summary: Quarterly Breakdown of trade into goods/services at current and constant prices
   Trade at Current Prices   Trade at Constant Prices€ million
          Exports           Imports           Exports           Imports  
             
 TotalGoods Services TotalGoods Services TotalGoods Services TotalGoods Services
2008            
Q136,63021,74914,88133,68715,44618,24139,96123,30516,65737,57417,30620,268
Q237,77322,17815,59533,33214,47918,85341,44324,26517,17836,99816,26420,735
Q337,01621,55315,46332,45713,85718,60039,93922,97616,96235,81415,47020,344
Q438,76222,92515,83734,40013,44520,95540,78523,35917,42637,53114,68222,849
 150,18088,40561,775133,87657,22776,649162,12893,90568,223147,91763,72284,195
2009            
Q136,51121,93214,57930,82112,24518,57638,28422,55715,72733,43813,75719,681
Q237,69722,10415,59330,61811,38919,22939,79522,99716,79833,71213,31020,402
Q335,78320,48615,29728,08310,46817,61538,27621,67016,60631,30612,44018,866
Q436,37320,51815,85532,03411,07620,95839,30521,99417,31135,90413,28322,621
 146,36385,04061,323121,55545,17876,377155,66189,21866,442134,36052,79081,570
2010            
Q137,01121,46215,54929,63811,16618,47238,95722,42016,53732,17012,76719,404
Q240,21823,19717,02132,28011,82520,45541,70823,67918,02834,66313,30321,361
Q340,49123,38917,10231,81511,50920,30642,20224,09818,10433,96112,70321,257
Q440,09021,68518,40535,29012,35622,93442,39922,93319,46637,61913,45724,161
 157,81189,73368,078129,02346,85682,167165,26693,13172,135138,41452,23086,183
2011            
Q140,44622,88417,56233,19912,71220,48741,96323,95218,01134,62013,48421,135
Q242,43323,18319,25033,03412,25220,78244,63524,55720,07834,57513,15821,416
Q341,65323,02918,62431,46311,17520,28843,76824,29819,47032,72411,75220,972
Q442,55522,55120,00434,70112,18722,51443,96323,16920,79435,65412,59623,058
 167,08691,64775,439132,39848,32684,072174,32995,97678,353137,57250,99186,582
2012            
Q144,48824,56519,92336,28414,63021,65444,92324,81720,10636,60514,74221,863
Q246,59924,72521,87437,47513,11924,35646,69324,83721,85537,55713,17524,383
Q345,71224,43521,27735,56713,37922,18845,29024,10921,18135,27013,21722,053
Q445,70823,25122,45737,75313,44324,31045,60023,21222,38837,64813,43824,210
 182,50696,97685,530147,07954,57192,508182,50696,97685,530147,07954,57192,508
2013            
Q143,68722,46721,22035,36713,79621,57143,91222,76721,14535,54914,04421,506 
Q247,49824,09223,40637,43613,79823,63847,38424,21023,17437,40514,00823,397
Q345,88223,17222,71035,77913,58922,19045,95223,47722,47535,77413,78821,986
Q446,98822,03224,95639,11114,39724,71447,31822,55524,76339,30314,76824,535
 184,05691,76392,293147,69455,58092,114184,56593,01091,556148,03156,60891,423
2014            
Q146,66924,32022,34937,68914,17423,51547,10325,10521,99937,63414,21223,422
Q253,12227,19625,92641,94915,01726,93253,56928,09525,47441,86615,19926,667
Q353,06927,31925,75041,55014,96126,58953,08427,79725,28741,37015,13326,237
% growth rate year on year        
2008            
Q1-0.7-4.65.52.5-8.113.51.20.91.50.8-10.112.3
Q2-1.9-5.94.41.0-6.37.40.81.20.2-0.3-7.76.4
Q3-1.6-3.51.3-1.4-7.53.7-0.70.2-2.0-2.8-9.02.5
Q4-1.7-5.34.0-5.0-21.19.3-4.6-8.00.4-7.5-24.27.8
2009            
Q1-0.30.8-2.0-8.5-20.71.8-4.2-3.2-5.6-11.0-20.5-2.9
Q2-0.2-0.3-0.0-8.1-21.32.0-4.0-5.2-2.2-8.9-18.2-1.6
Q3-3.3-5.0-1.1-13.5-24.5-5.3-4.2-5.7-2.1-12.6-19.6-7.3
Q4-6.2-10.50.1-6.9-17.60.0-3.6-5.8-0.7-4.3-9.5-1.0
2010            
Q11.4-2.16.7-3.8-8.8-0.61.8-0.65.2-3.8-7.2-1.4
Q26.74.99.25.43.86.44.83.07.32.8-0.14.7
Q313.214.211.813.39.915.310.311.29.08.52.112.7
Q410.25.716.110.211.69.47.94.312.44.81.36.8
2011            
Q19.36.612.912.013.810.97.76.88.97.65.68.9
Q25.5-0.113.12.33.61.67.03.711.4-0.3-1.10.3
Q32.9-1.58.9-1.1-2.9-0.13.70.87.5-3.6-7.5-1.3
Q46.14.08.7-1.7-1.4-1.83.71.06.8-5.2-6.4-4.6
2012            
Q110.07.313.49.315.15.77.13.611.65.79.33.4
Q29.86.713.613.47.117.24.61.18.98.60.113.9
Q39.76.114.213.019.79.43.5-0.88.87.812.55.2
Q47.43.112.38.810.38.03.70.27.75.66.75.0
2013            
Q1-1.8-8.56.5-2.5-5.7-0.4-2.3-8.35.2-2.9-4.7-1.6
Q21.9-2.67.0-0.15.2-2.91.5-2.56.0-0.46.3-4.0
Q30.4-5.26.70.61.60.01.5-2.66.11.44.3-0.3
Q42.8-5.211.13.67.11.73.8-2.810.64.49.91.3
2014
Q16.88.25.36.62.79.07.310.34.05.91.38.9
Q211.812.910.812.18.813.913.015.99.911.88.214.0
Q315.717.913.416.110.119.815.518.412.515.69.819.3
Seasonally Adjusted (SA) Annex 1 - Trade Summary: Quarterly Breakdown of trade into goods/services at SA current and SA constant prices
  Trade at Current Prices  Trade at Constant Prices € million
         Exports         Imports          Exports          Imports
             
 TotalGoods Services TotalGoods Services TotalGoods Services TotalGoods Services
2008            
Q137,62522,07215,33034,18515,23318,98440,99423,68617,18138,17617,12821,080
Q237,00321,75615,27933,32514,53218,74140,77723,75416,93737,01016,30320,638
Q337,41721,89115,47033,67714,53919,04340,31423,31016,97237,09516,22920,886
Q438,25322,80715,65832,63813,01919,85040,12723,28617,07435,60114,17721,545
 150,29788,52661,736133,82557,32376,618162,21294,03768,164147,88163,83784,150
             
2009            
Q137,31622,13915,09231,36412,04619,34739,39122,80816,40134,11713,62020,552
Q236,95821,67915,21830,59611,39519,05638,95822,50516,44933,63913,26520,236
Q336,11020,66915,39329,31310,92918,18738,52521,82316,68532,59612,98919,539
Q436,09920,65615,56930,26910,84819,76338,86222,19216,84634,02212,97821,212
 146,48285,14361,272121,54245,21876,354155,73789,32766,381134,37552,85281,539
             
2010            
Q137,81621,60416,14530,30410,99019,31540,01722,61117,26632,94712,63420,337
Q239,30922,67916,57432,10311,73120,17340,79623,10817,65234,40713,15321,106
Q340,78023,45317,29333,04611,99120,94642,37024,11618,26435,25813,24521,986
Q440,01622,09518,02533,56112,20321,72742,13823,40218,91735,83213,25122,762
 157,92089,83168,038129,01446,91482,160165,32293,23772,098138,44452,28386,192
             
2011            
Q140,94122,95518,22733,91912,46021,41143,27624,09718,91535,45613,31122,163
Q241,71222,62318,73732,76112,14320,35343,36323,90419,52734,14112,97720,985
Q341,90722,94918,90532,65911,61220,98343,86124,17519,71334,01712,23421,741
Q442,57623,22719,52933,07612,10921,31843,86523,89220,16834,01312,46921,712
 167,13691,75475,397132,41548,32484,065174,36596,06878,323137,62750,99186,601
             
2012            
Q145,06924,63420,64837,16314,38822,69546,20224,96620,96837,52314,55822,943
Q245,74424,02621,31836,98912,93623,76645,35224,05221,34636,93112,96023,828
Q345,97224,24621,61936,71313,86922,87845,36823,91521,48536,53013,74622,795
Q445,73324,13921,92136,22013,37523,18245,58424,12221,72236,13513,30322,993
 182,51897,04685,505147,08554,56892,521182,50597,05485,521147,11854,56892,558
             
2013            
Q144,27422,52721,97436,36913,61722,69445,26122,90921,97636,53113,89522,606
Q246,65523,34122,83836,81313,59622,90745,92123,33322,68836,65313,79022,723
Q346,15522,94823,08736,84814,02422,88646,02923,27722,81836,97014,29722,721
Q446,93822,94524,36837,66514,33223,62947,33723,51824,06237,90414,61923,402
 184,02291,76092,267147,69555,56992,115184,54893,03791,544148,05756,60191,451
2014            
Q147,06624,40023,13838,69313,96124,68848,73925,29022,94838,61014,04224,571 
Q252,52526,30825,34841,31314,88726,12351,80126,98124,87641,09015,03525,885 
Q353,35427,03626,13942,58415,38227,28753,17627,58125,64642,52015,64826,972 
         
% growth rate quarter on quarter        
2008            
Q1-2.8 -7.3 1.4-1.1 -6.9 4.3-2.1 -5.3 0.5-1.3 -7.7 5.2
Q2-1.7 -1.4 -0.3 -2.5 -4.6 -1.3 -0.5 0.3-1.4 -3.1 -4.8 -2.1
Q31.10.61.31.10.01.6-1.1 -1.9 0.20.2-0.5 1.2
Q42.24.21.2-3.1 -10.5 4.2-0.5 -0.1 0.6-4.0 -12.6 3.2
             
2009            
Q1-2.4 -2.9 -3.6 -3.9 -7.5 -2.5 -1.8 -2.1 -3.9 -4.2 -3.9 -4.6
Q2-1.0 -2.1 0.8-2.4 -5.4 -1.5 -1.1 -1.3 0.3-1.4 -2.6 -1.5
Q3-2.3 -4.7 1.1-4.2 -4.1 -4.6 -1.1 -3.0 1.4-3.1 -2.1 -3.4
Q4-0.0 -0.1 1.13.3-0.7 8.70.91.71.04.4-0.1 8.6
             
2010            
Q14.84.63.70.11.3-2.3 3.01.92.5-3.2 -2.6 -4.1
Q23.95.02.75.96.74.41.92.22.24.44.13.8
Q33.73.44.32.92.23.83.94.43.52.50.74.2 
Q4-1.9 -5.8 4.21.61.83.7-0.5 -3.0 3.61.60.03.5 
              
2011             
Q12.33.91.11.12.1-1.5 2.73.0-0.0 -1.0 0.5-2.6
Q21.9-1.4 2.8-3.4 -2.5 -4.9 0.2-0.8 3.2-3.7 -2.5 -5.3
Q30.51.40.9-0.3 -4.4 3.11.11.11.0-0.4 -5.7 3.6
Q41.61.23.31.34.31.60.0-1.2 2.3-0.0 1.9-0.1
             
2012            
Q15.96.15.712.418.86.55.34.54.010.316.85.7
Q21.5-2.5 3.2-0.5 -10.1 4.7-1.8 -3.7 1.8-1.6 -11.0 3.9
Q30.50.91.4-0.7 7.2-3.7 0.0-0.6 0.7-1.1 6.1-4.3
Q4-0.5 -0.4 1.4-1.3 -3.6 1.30.50.91.1-1.1 -3.2 0.9
             
2013            
Q1-3.2 -6.7 0.20.41.8-2.1 -0.7 -5.0 1.21.14.5-1.7
Q25.43.63.91.2-0.2 0.91.51.93.20.3-0.8 0.5
Q3-1.1 -1.7 1.10.13.1-0.1 0.2-0.2 0.60.93.7-0.0
Q41.7-0.0 5.52.22.23.22.81.05.52.52.33.0
 
2014  
Q10.36.3-5.0 2.7-2.6 4.53.07.5-4.6 1.9-3.9 5.0
Q211.67.89.56.86.65.86.36.78.46.47.15.3
Q31.62.83.13.13.34.52.72.23.13.54.14.2
Annex 2 Transportable Goods Industries & Utilities Sector and Building & Construction Sector at Constant Factor Cost -
(Chain linked annually and referenced to year 2012) Non-Seasonally Adjusted and Seasonally Adjusted and Seasonally Adjusted
        
 NON-SEASONALLY ADJUSTED SEASONALLY ADJUSTED
        
  of whichof which  of whichof which
PeriodIndustryTransportable Goods Industries and Utilities Building and Construct. Industry Transportable Goods Industries and UtilitiesBuilding and construct.
2008       
Q112,51510,6011,690 12,07210,1471,717
Q212,54510,9401,574 12,05710,2891,646
Q311,4829,5571,616 12,04410,2671,565
Q410,3178,5571,464 10,7498,9911,423
2009       
Q111,55110,3621,265 11,1479,9301,293
Q211,39610,4241,146 10,7909,6841,197
Q39,6478,4911,140 10,1179,0781,098
Q49,2518,2041,062 9,7958,7721,028
2010       
Q111,34610,54282910,8029,941857
Q210,98410,17284010,3879,492876
Q39,8849,03189210,3809,626856
Q410,0719,26284210,79610,033810
2011       
Q111,13510,386755 10,7359,942792
Q211,35110,624726 10,4729,675755
Q310,3569,633734 10,88610,244702
Q410,4869,790700 11,37110,735670
2012       
Q111,37310,723630 10,81810,102669
Q211,90611,228656 11,04310,324682
Q39,7759,080710 10,2579,616675
Q49,2538,536744 10,1099,433708
2013       
Q111,22410,556668 10,6599,922717
Q211,14710,424723 10,3149,577751
Q310,0839,250834 10,5559,764790
Q49,2518,411840 10,1819,365797
2014       
Q110,6669,934733 10,2939,514793
Q211,86811,076792 10,7829,964821
Q310,2819,387895 10,7319,879845
Percentage change on corresponding period of previous year Percentage change on previous quarter
2008       
Q1-3.4-3.9-2.2 -6.3-7.43.6
Q20.51.0-2.0 -0.11.4-4.2
Q3-4.2-3.7-4.5 -0.1-0.2-4.9
Q4-17.9-19.4-14.2 -10.7-12.4-9.0
2009       
Q1-7.7-2.3-25.2 3.710.4-9.1
Q2-9.2-4.7-27.2 -3.2-2.5-7.4
Q3-16.0-11.2-29.5 -6.2-6.3-8.3
Q4-10.3-4.1-27.5 -3.2-3.4-6.4
2010       
Q1-1.81.7-34.5 10.313.3-16.7
Q2-3.6-2.4-26.7 -3.8-4.52.3
Q32.56.4-21.8 -0.11.4-2.3
Q48.912.9-20.7 4.04.2-5.4
2011       
Q1-1.9-1.5-8.9 -0.6-0.9-2.2
Q23.34.4-13.5 -2.4-2.7-4.7
Q34.86.7-17.6 3.95.9-7.1
Q44.15.7-16.8 4.54.8-4.5
2012       
Q12.13.2-16.6 -4.9-5.9-0.2
Q24.95.7-9.6 2.12.22.0
Q3-5.6-5.7-3.3 -7.1-6.9-1.0
Q4-11.8-12.86.2 -1.4-1.94.8
2013       
Q1-1.3-1.66.1 5.45.21.2
Q2-6.4-7.210.1 -3.2-3.54.8
Q33.21.917.4 2.32.05.2
Q4-0.0-1.513.0 -3.5-4.10.9
2014
Q1-5.0-5.99.6 1.11.6-0.4
Q26.56.39.5 4.74.73.5
Q32.01.57.3 -0.5-0.93.0
Annex 3A Total Domestic Demand at Current Market Prices & Constant Prices (Chain linked annually and referenced to year 2012) -Non Seasonally Adjusted
           € million
              
 CURRENT MARKET PRICES CONSTANT MARKET PRICES
              
PeriodPersonal consumption of goods and servicesNet exp. by central and local government on current goods and servicesGross domestic fixed capital formationFinal Domestic DemandValue of physical changes in stocksTotal Domestic Demand Personal consumption of goods and servicesNet exp. by central and local government on current goods and servicesGross domestic fixed capital formationFinal Domestic DemandValue of physical changes in stocksTotal Domestic Demand
200894,71230,77545,221170,707-330170,377 88,40430,21540,535159,643-328159,194
200983,56529,65033,082146,297-1,490144,807 83,64629,15132,225145,191-1,471143,689
201082,44726,43726,106134,990-569134,421 84,41327,06926,418137,934-577137,340
201182,96926,11124,841133,921780134,701 83,43426,49025,650135,604782136,390
201282,46725,92226,923135,312288135,600 82,46725,92226,923135,312288135,600
201383,33425,95626,541135,831837136,668 81,79726,27326,275134,345861135,206
2008             
Q123,8067,54913,93045,285-39044,895 22,3597,47712,24842,416-59641,985
Q223,1077,62810,83541,57152942,099 21,5487,4859,69938,82181839,263
Q323,2547,63511,09341,982-2741,955 21,7117,44910,03739,3688039,356
Q424,5447,9619,36341,869-44241,427 22,7867,8038,55139,037-63038,590
 94,71230,77545,221170,707-330170,377 88,40430,21540,535159,643-328159,194
2009             
Q121,0447,7809,29538,120-56837,550 20,7717,4678,83337,312-57136,746
Q220,4297,2088,44936,0871436,101 20,4527,3398,11335,7058035,748
Q320,2137,2067,08234,501-43034,071 20,4307,0267,08434,608-48634,124
Q421,8797,4558,25637,590-50537,084 21,9937,3198,19537,566-49437,071
 83,56529,65033,082146,297-1,490144,807 83,64629,15132,225145,191-1,471143,689
2010             
Q120,2196,6976,88433,800-52733,272 20,7896,8016,88734,551-55333,997
Q220,1366,4866,82933,450-10633,344 20,6706,8486,90934,237-6734,165
Q320,3146,4305,78732,53035332,883 20,8476,5805,99533,42334833,763
Q421,7786,8256,60735,210-28834,922 22,1076,8396,62635,723-30535,415
 82,44726,43726,106134,990-569134,421 84,41327,06926,418137,934-577137,340
2011             
Q120,3936,5136,66533,570-31733,253 20,6996,7626,87534,194-36633,816
Q220,3026,5056,47633,28240333,685 20,4916,6806,65733,75835834,121
Q320,0756,5605,40432,03959932,638 20,2286,5115,55732,44063233,082
Q422,1996,5346,29635,0299535,124 22,0166,5376,56135,21215835,370
 82,96926,11124,841133,921780134,701 83,43426,49025,650135,604782136,390
2012             
Q119,8956,6026,77633,272-57732,695 20,0346,6026,95533,583-61232,962
Q219,9066,4305,68432,02054932,568 19,9866,4305,65632,08853732,631
Q320,3456,5115,69032,54629032,835 20,4126,5115,60132,54428932,836
Q422,3226,3808,77337,4752737,502 22,0356,3808,71237,0987337,172
 82,46725,92226,923135,312288135,600 82,46725,92226,923135,312288135,600
2013             
Q120,0896,4316,61033,13040933,539 19,8736,4476,67332,99349933,493
Q220,0376,4595,83032,32624032,565 19,7456,2975,76431,80628732,093
Q320,6236,4756,23533,33379834,131 20,2696,6996,11533,08378733,870
Q422,5866,5917,86637,043-61036,433 21,9106,8307,72336,462-71335,750
 83,33425,95626,541135,831837136,668 81,79726,27326,275134,345861135,206
2014             
Q120,5576,3657,13534,05849334,551 20,0036,6367,05033,68951434,203
Q220,6306,3967,10934,1358534,220 19,9826,6676,87133,5197433,593
Q320,9496,4806,83434,26353334,796 20,2786,6086,59233,47935133,829
Percentage change on corresponding period of previous year    Percentage change on corresponding period of previous year  
2008             
Q16.46.3-11.40.2 -0.8 3.61.5-4.70.3 -0.6
Q21.96.4-18.6-3.7 -3.3 -0.22.2-10.6-3.0 -2.7
Q31.13.6-9.1-1.4 -0.3 -0.3-1.2-1.2-0.6 0.8
Q4-2.14.5-28.5-8.5 -11.6 -2.7-0.2-22.2-7.9 -11.0
2009             
Q1-11.63.1-33.3-15.8 -16.4 -7.1-0.1-27.9-12.0 -12.5
Q2-11.6-5.5-22.0-13.2 -14.2 -5.1-1.9-16.4-8.0 -9.0
Q3-13.1-5.6-36.2-17.8 -18.8 -5.9-5.7-29.4-12.1 -13.3
Q4-10.9-6.4-11.8-10.2 -10.5 -3.5-6.2-4.2-3.8 -3.9
2010             
Q1-3.9-13.9-25.9-11.3 -11.4 0.1-8.9-22.0-7.4 -7.5
Q2-1.4-10.0-19.2-7.3 -7.6 1.1-6.7-14.8-4.1 -4.4
Q30.5-10.8-18.3-5.7 -3.5 2.0-6.3-15.4-3.4 -1.1
Q4-0.5-8.5-20.0-6.3 -5.8 0.5-6.6-19.1-4.9 -4.5
2011             
Q10.9-2.7-3.2-0.7 -0.1 -0.4-0.6-0.2-1.0 -0.5
Q20.80.3-5.2-0.5 1.0 -0.9-2.5-3.6-1.4 -0.1
Q3-1.22.0-6.6-1.5 -0.7 -3.0-1.1-7.3-2.9 -2.0
Q41.9-4.3-4.7-0.5 0.6 -0.4-4.4-1.0-1.4 -0.1
2012             
Q1-2.41.41.7-0.9 -1.7 -3.2-2.41.2-1.8 -2.5
Q2-1.9-1.2-12.2-3.8 -3.3 -2.5-3.8-15.0-4.9 -4.4
Q31.3-0.75.31.6 0.6 0.9-0.00.80.3 -0.7
Q40.6-2.339.37.0 6.8 0.1-2.432.85.4 5.1
2013             
Q11.0-2.6-2.5-0.4 2.6 -0.8-2.3-4.1-1.8 1.6
Q20.70.52.61.0 -0.0 -1.2-2.11.9-0.9 -1.6
Q31.4-0.59.62.4 3.9 -0.72.99.21.7 3.2
Q41.23.3-10.3-1.2 -2.8 -0.67.0-11.4-1.7 -3.8
2014
Q12.3-1.07.92.8 3.0 0.72.95.62.1 2.1
Q23.0-1.021.95.6 5.1 1.25.919.25.4 4.7
Q31.60.19.62.8 2.0 0.0-1.47.81.2 -0.1
Annex 3B Total Domestic Demand at Current Market Prices & Constant Prices (Chain linked annually and referenced to year 2012) -Seasonally Adjusted   
            € million
 CURRENT MARKET PRICES CONSTANT MARKET PRICES
              
PeriodPersonal comsumption of goods and servicesNet exp. by central and local government on current goods and servicesGross domestic fixed capital formationFinal Domestic DemandValue of physical changes in stockTotal Domestic Demand Personal Personal comsumption of goods and servicesNet exp. by central and local government on current goods and servicesGross domestic fixed capital formationFinal Domestic DemandValue of physical changes in stockTotal Domestic Demand
2008             
Q123,9317,58013,14244,846-30444,745 22,4857,56211,38141,931-51641,594
Q223,6937,72210,94842,45119942,854 22,0367,5449,91939,78134239,976
Q323,7987,69011,96443,21115043,605 22,1297,53210,81040,62539140,864
Q423,2547,7969,12140,167-41439,239 21,6977,5968,39137,334-59636,807
2009             
Q121,2787,7968,79637,957-39237,712 21,0177,5288,22837,046-38436,687
Q220,9207,2888,51536,788-27936,698 20,9137,3688,26236,515-32536,311
Q320,6647,2647,71935,576-44335,297 20,8327,1397,71535,778-42435,312
Q420,6527,3127,95335,836-39635,033 20,8177,1417,95635,760-36235,289
2010             
Q120,4696,7006,53333,728-31233,494 21,0676,8536,41034,345-34634,005
Q220,7026,5596,88934,209-34334,005 21,2076,8457,06035,115-36234,828
Q320,7476,4726,37333,59919233,966 21,2236,6876,61234,57122834,821
Q420,4676,7106,24933,325-10332,929 20,8536,7186,31133,833-10033,649
2011             
Q120,8516,5216,37533,826-10733,773 21,1596,7436,47634,285-15534,171
Q220,7866,5716,58033,94422334,227 20,9516,7206,81534,52912834,629
Q320,4756,5875,95333,07033533,586 20,5706,5856,14433,49840833,968
Q420,7846,4345,87532,98735833,115 20,7026,4626,14933,23142733,607
2012             
Q120,3266,6156,51533,514-43533,086 20,4646,5766,56333,654-49433,168
Q220,5036,4955,83832,86144033,320 20,5636,4715,87333,01740833,379
Q320,7296,5176,25233,559-2833,707 20,7266,5546,19433,5422633,617
Q420,8306,2968,09035,16234635,350 20,6736,3178,04934,91437935,316
2013             
Q120,5456,4536,37833,39247533,851 20,3076,4396,31133,08152933,605
Q220,7106,5226,06833,32018633,488 20,3916,3316,07932,86722333,014
Q320,9856,4666,79534,30145934,976 20,5516,7366,71734,03251934,599
Q421,0326,5127,21634,690-24634,322 20,5176,7487,08034,245-36933,967
2014             
Q121,1796,4036,89934,65149335,123 20,5776,6366,73034,07648334,568
Q221,2326,4467,46435,4026535,419 20,5416,7107,26734,8832834,754
Q321,2996,4637,41035,32419135,893 20,5366,6517,21034,5019234,868
Percentage change on previous quarter    Percentage change on previous quarter  
2008             
Q10.41.81.91.6 0.3 0.3-0.54.53.0 0.2
Q2-1.01.9-16.7-5.3 -4.2 -2.0-0.2-12.8-5.1 -3.9
Q30.4-0.49.31.8 1.8 0.4-0.29.02.1 2.2
Q4-2.31.4-23.8-7.0 -10.0 -2.00.9-22.4-8.1 -9.9
2009             
Q1-8.5-0.0-3.6-5.5 -3.9 -3.1-0.9-1.9-0.8 -0.3
Q2-1.7-6.5-3.2-3.1 -2.7 -0.5-2.10.4-1.4 -1.0
Q3-1.2-0.3-9.4-3.3 -3.8 -0.4-3.1-6.6-2.0 -2.8
Q4-0.10.73.00.7 -0.7 -0.10.03.1-0.1 -0.1
2010             
Q1-0.9-8.4-17.9-5.9 -4.4 1.2-4.0-19.4-4.0 -3.6
Q21.1-2.15.41.4 1.5 0.7-0.110.12.2 2.4
Q30.2-1.3-7.5-1.8 -0.1 0.1-2.3-6.3-1.6 -0.0
Q4-1.43.7-2.0-0.8 -3.1 -1.70.5-4.6-2.1 -3.4
2011             
Q11.9-2.82.01.5 2.6 1.50.42.61.3 1.6
Q2-0.30.83.20.3 1.3 -1.0-0.35.20.7 1.3
Q3-1.50.2-9.5-2.6 -1.9 -1.8-2.0-9.8-3.0 -1.9
Q41.5-2.3-1.3-0.3 -1.4 0.6-1.90.1-0.8 -1.1
2012             
Q1-2.22.810.91.6 -0.1 -1.11.86.71.3 -1.3
Q20.9-1.8-10.4-1.9 0.7 0.5-1.6-10.5-1.9 0.6
Q31.10.37.12.1 1.2 0.81.35.51.6 0.7
Q40.5-3.429.44.8 4.9 -0.3-3.630.04.1 5.1
2013             
Q1-1.42.5-21.2-5.0 -4.2 -1.81.9-21.6-5.2 -4.8
Q20.81.1-4.9-0.2 -1.1 0.4-1.7-3.7-0.6 -1.8
Q31.3-0.912.02.9 4.4 0.86.410.53.5 4.8
Q40.20.76.21.1 -1.9 -0.20.25.40.6 -1.8
2014
Q10.7-1.7-4.4-0.1 2.3 0.3-1.7-4.9-0.5 1.8
Q20.20.78.22.2 0.8 -0.21.18.02.4 0.5
Q30.30.3-0.7-0.2 1.3 -0.0-0.9-0.8-1.1 0.3

Background Notes

 

Introduction 

This release gives the official quarterly national accounts estimates for Ireland. It provides the first set of results for Q3 of 2014.

National accounts are compiled in the EU according to the European System of National and Regional Accounts (ESA) framework. In 2014, the new ESA 2010 framework will replace the current ESA 95 version and all EU member states are required to adopt ESA 2010 by September 2014.  ESA 2010 is the European version of the current UN mandated international standards for national accounts statistics, the System of National Accounts (SNA) 2008.  The results for all years in this release are published on an ESA 2010 basis. For Ireland, the ESA 2010 change with the greatest impact on gross domestic product (GDP) is the new treatment of research and development (R&D) expenditure.  Under ESA95, R&D expenditure was treated as an ancillary cost to the main production of an enterprise, while under ESA2010, R&D expenditure is recognised as capital investment.

 

In addition to the ESA 2010 changes, the results include additional estimates for illegal economic activities in line with the requirement from the European statistical agency, Eurostat to include such estimates in the National Accounts before September 2014.

The aggregates shown have been derived from a wide variety of sources. As some of the available sources are of lesser reliability than those used for the annual national accounts, the quarterly estimates given in this release have a higher margin of error than the annual figures.

 

Revisions 

Minor revisions have been made to the previously published figures for 2014.

 

Nace classification 

In compliance with EU regulations the Nace Rev. 2 classification system is used in tables 1, 4 and Annex 2. (The national classification system that was used up to and including the Q4 2011 QNA results that were published in March 2012 was replaced with the Nace Rev. 2 classification system in the Q1 2012 results published in July 2012). 

The results for the economy are shown for five sectors. The contents of the sectors conform to the Nace Rev. 2 system.  The “Publishing” industry is classified in the sector “Distribution, transport, software and communication”. In addition, enterprises in the Hotels and catering sector are also classified to this sector. The “Software” industry is also part of the “Distribution transport, software and communications” category in the NACE rev 2 classification.

 

In tables 1 and 4 the following is the correspondence with the relevant sections of Nace Rev. 2:

  

Agriculture, forestry and fishing   Section A
Industry    Sections B to F
Distribution, transport, software & communications   Sections G to J
Public Administration and Defence  Section O
Other Services

 Sections K to N

and P to U

             

For further information on the Nace Rev. 2 classification of industrial activity, visit the CSO website:

http://www.cso.ie/en/surveysandmethodology/classifications/classificationofindustrialactivity.

 

Current Price

For the annual accounts, GDP at current prices is calculated using two independent approaches i.e. the income and expenditure methods. On a quarterly basis, it is not possible to compile a reliable income based estimate. The estimates in current prices are on the expenditure basis only and these are supplied in Table 2. The balancing item (i.e. the statistical discrepancy) which is required to adjust the expenditure based estimate to the definitive measure of GDP (the average of income and expenditure) has been projected forward into 2014 in line with the trend in the aggregate of all the other expenditure items 

Volumes

At constant prices, two measures (output and expenditure) are used. These measures are now being produced using annual chain linked indices. On the output side, for each quarter, the volume growth measures at a detailed level are weighted together using value added weights of the previous year.

Similarly, on the expenditure side, the growth estimates are weighted by expenditure weights of the previous year. The average of the two measures is the growth measure used. The change over a period of years is then calculated by linking together the annual changes. The estimates in this release are referenced to 2012 values. A consequence of this method is that the individual components of GDP at reference year values do not add to the total.                                       

Definitions  

Gross Domestic Product (GDP) represents the total value added (output) in the production of goods and services in the country. 

Net factor income from the rest of the world (NFI) is the difference between investment income (interest, profits etc.) and labour income earned abroad by Irish resident persons and companies (inflows) and similar incomes earned in Ireland by non-residents (outflows). The data are taken from the Balance of Payments statistics that are based on the new BPM6 framework introduced in the Q1 2014 Balance of Payments release. (BPM6 is consistent with ESA 2010:for further details please refer to Q1 2014 Balance of Payments release) The components of interest flows involving banks in the Net factor income item in the national accounts are constructed on the basis of “pure” interest rates (that is exclusive of FISIM).Under BPM5 based Balance of Payments data released previously, this FISIM adjustment was not carried out. However, under the new BPM6 framework,FISIM is now being treated as part of financial services,rather than income,bringing it into line with the treatment of FISIM in national accounts statistics. The deflator used to generate the constant price figures is based on the implied quarterly price index for the exports of goods and services. In some years exceptional income payments have had to be deflated individually. 

Gross National Product (GNP) is the sum of GDP and NFI. Because NFI is the difference between two large gross flows, its magnitude can fluctuate greatly from one quarter to another. This can lead to significant differences between the GDP and GNP growth rate for the same quarter.

 

Methodology             Table 1: Output Measure

The estimation procedures are similar to those used for the annual accounts whenever possible.  However, in a number of cases the annual methodology cannot be followed due to the lack of relevant data. 

Agriculture, Forestry and Fishing

The estimate for Agriculture is calculated by using the available sub-annual information for exports and slaughterings of animals, milk deliveries, stock changes (six-monthly), fertiliser and feeding stuffs usage etc. For some items, annual figures are distributed equally across the quarters. Monthly sea fish landings are used to estimate the quarterly output of fishing. 

Industry 

The gross value added of manufacturing industy is calculated by applying monthly volume of production indices to the previous year's quarterly gross value added, including royalties. Royalties are separately deflated using the export price index and then deducted. 

Changes in the volume of investment in construction projects are used to estimate the output of the building and construction sector.

 

Distribution, Transport, Software and Communications

For distribution the methods used are similar to those used for the annual calculation. They rely heavily on the retail sales indices and other CSO services inquiries. In the case of transport, most of the output measures used for the annual calculations are available on a quarterly basis. 

For communications the main data sources are direct inquiries to the suppliers, with additional data and trend estimation for some residual components. 

Public Administration and Defence

The quarterly estimate of value added for public administration and defence has been calculated based on the employment trends in the public sector. 

Other Services (Incl. Rent)

The Other Services category covers a variety of service activities, some of which are surveyed on a quarterly basis by the CSO. For some services, information on outputs is not directly available on a quarterly basis. In most of these cases, quarterly estimates are derived using trends in related indicators. In a small number of residual cases, annual estimates are distributed equally across the quarters. 

Taxes and Subsidies

Taxes and subsidies are deflated at a detailed level using appropriate price indices.  Value added taxes and excise duties have been accrued and recorded in the period in which the underlying expenditure took place. 

Net factor income from the rest of the world

The value of net income flows with the rest of the world in the Quarterly National Accounts release is generally consistent with the published Balance of Payments statistics except for the FISIM adjustment (see the definition of this item above). 

Tables 2 and 3: Expenditure Measures

 The various components of the expenditure based measure of GDP are defined in the annual National Income and Expenditure publication. The methods used for the quarterly series are similar to those used for the annual where possible but in many cases alternative methods have been applied. 

Personal Consumption Expenditure is estimated using CSO data, such as the Retail Sales Indices together with some direct inquiries. Administrative data sources are used for some goods such as fuel and power products and motor vehicles. Constant price estimates are obtained using components of the Consumer Price Index (CPI). 

Net Expenditure by Central and Local Government at current market prices is estimated using Government records. From Q2 of 2009 it is calculated net of the public sector pension levy introduced in March 2009. The constant price estimates of remuneration are derived by extrapolating base year estimates using an index of employment or using appropriate deflators for wages and are unaffected by the pension levy which is treated as a reduction in wage rates. Expenditure on goods and services is deflated partly by consumer price indices and partly by wholesale price indices. 

Gross Domestic Fixed Capital Formation at current market prices includes expenditure on building and construction work and machinery and equipment. The quarterly estimates of dwellings are based on data from the Department of Environment’s (DoE) Quarterly Housing Bulletin. Information on other building and construction is based on the CSO’s quarterly index of production in Building and Construction. Quarterly estimates of commercial vehicles used in the business sector are estimated using administrative data. Estimates of other machinery and equipment and R&D (included under ESA 2010 standards) are made by reference to import statistics and the CSO Quarterly Capital Assets in Industry Inquiry. Current estimates are deflated to prices of the previousyear using appropriate price indices such as components of the Wholesale Price Index (WPI) and indices for construction activity year using appropriate price indices such as components of the Wholesale Price Index (WPI) and indices for construction activity. 

Value of Physical Changes in Stocks at current pricescovers stock changes in the agricultural, industrial and distribution sectors and in intervention stocks. This item measures the actual value change in stocks between the beginning and end of quarter adjusted for any changes in the prices of the underlying commodities. Data on industrial and distribution stocks are taken from published and unpublished components of the CSO Quarterly Stocks Inquiry. Agricultural stocks are estimated from the results of CSO’s agricultural enumerations and statistics on animal slaughterings, etc. Constant price estimates are calculated by deflating the current estimates using relevant price indices and price data on agricultural and intervention stocks. Some adjustments have been made to the stocks values to improve the coherence of the quarterly accounts. These are judgmental adjustments to allow for within-year timing differences between the output and expenditure measures. Over a calendar year, these adjustments are neutral. 

Exports and Imports of Goods and Services at current prices are taken from the CSO Balance of Payments series. An adjustment is made for FISIM (see the definition of “net factor income from the rest of the world” page 12) Current price estimates are converted to previous year prices using the available price indices, including export and import unit value indices. 

A very significant fall in the pattern of distributive type trade with Great Britain in Electrical machinery and parts in 2002 has a very large influence on year-on-year comparisons of both exports and imports for 2003 and the latter part of 2002. While the comparisons of gross flows are considerably influenced, the net balance of trade is not significantly affected.

 

Seasonal Adjustment

Seasonal adjustment is conducted using the direct seasonal adjustment approach. Under this approach each individual time series is independently adjusted, i.e. aggregate series are adjusted without reference to the component series. This direct approach is applied  to GDP and GNP and the seasonally adjusted GDP and GNP are not derived as the sum of the seasonally adjusted components (such as Personal Consumption, Exports etc.) but rather by seasonally adjusting the unadjusted values of GDP and GNP as shown in Tables 1 - 3. On this account, and also because of the statistical discrepancy in the original series, the sum of the seasonally adjusted components of GDP and GNP do not add to the respective seasonally adjusted series. As part of the seasonal adjustment process, ARIMA models are identified for each series based on unadjusted data spanning Q1 1997 to Q1 2014. These models are then applied to the entire series (Q1 1997 to Q3 2014). Seasonal factors and the parameters of the ARIMA models are updated each quarter. 

The adjustments are completed by applying the X-12-ARIMA model, developed by the U.S. Census Bureau to the unadjusted data. This methodology estimates seasonal factors while also taking into consideration factors that impact on the quality of the seasonal adjustment such as, for example:

• Calendar effects, e.g. the timing of Easter

• Outliers, temporary changes and level shifts in the series

 

For additional information on the use of X-12-ARIMA see (Findley, D.F., B.C. Monsell, W.R. Bell, M.C. Otto, and B. Chen (1998), “New Capabilities and Methods of the X-12-Arima Seasonal Adjustment Program”, Journal of Business & Economic Statistics, 16, pp. 127-177.)

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