|Unit||Mil. EUR, CDASA|
|Adjustments||Calendar Adjusted and Seasonally Adjusted|
|Source||National Institute of Statistics (INE)|
|Release||Quarterly Spanish National Accounts|
|Capacity Utilization||2023 Q1||77.1||77.2||%, SA||Quarterly|
|Business Confidence||Feb 2023||-6||-4.2||Dif. Index=0, SA||Monthly|
|Change in Inventories||2022 Q4||7,966||2,322||Mil. EUR, CDASA||Quarterly|
The Quarterly Spanish National Accounts (QSNA) provides a coherent qualitative description of Spanish economic activity as a whole in the immediate past via a quarterly macro-economic framework, elaborated from the point of view of supply, demand and income. Similarly, it includes estimates of the level of employment in terms of national accounting with the following concepts: persons, jobs, full time jobs. The QSNA estimates are offered in two versions: gross or non-adjusted data, corrected for seasonal and calendar effects data. The QSNA system includes the quarterly accounts from the rest of the world that quantifies among other things, the capacity or need to finance the economy as a whole.
The methodology employed by the QSNA is based on estimates by means of econometric techniques from models that relate the development of each SNA with a group of quarterly indicators that allow both quarterly breakdowns and extrapolation. Technically it can be said therefore, that the QSNA is a compromise between the rigor and amplitude of the SNA and the rapidity and opportunity of short term indicators.
The QSNA estimates are offered in current and volume terms. The first are valued at the same period's prices and the second are presented by means of indices linked to the specified reference year. These indices arise from linking the valuations carried out with the previous year's prices.
The QSNA estimates are offered in two versions: gross or non-adjusted data, corrected for seasonal and calendar effects data. The QSNA system includes the quarterly accounts from the rest of the world that quantifies among other things, the capacity or need to finance the economy as a whole.
All QSNA estimates are adjusted to the same principles of accounting coherence and balance as the annual National Accounting of Spain (NAS). Both statistics are in harmony with the European System of National and Regional Accounts (ESA).
For GDP(E) and GDP(O), we compute chained-price levels from the current-price levels and chained volume indexes.
One aspect of the QSNA to highlight is that of the frequent and sometimes important revisions that necessarily occur among which the following are worthy of note: modifications to the QSNA data, revision of the indicators, replacement of predictions in the indicators by real available data, modifications included because of the seasonal adjustment filters and variations in the general resource and jobs balance process.
At the IMF (SDDS):