The Gross Domestic Product (GDP) measures the final result of the production activity of the production units in a territory. There are three vantage points for analysing GDP: supply, demand and income.
From the standpoint of supply, GDP makes it possible to evaluate the contributions made by the different productive branches to the economy as a whole (gross value added of agriculture, industry, construction and services).
Idescat and the Departament of the Vice-presidency and of the Economy and Finance are responsible of the Advance of the GDP, which are calculated using short-term and provisional information, 40 days after the end of the quarter. Later, these estimates are updated in the Quarterly Accounts produced by Idescat.
The Quarterly Accounts are calculated in terms of both offer and demand, using complete short-term information on the quarter. The cycle is repeated each quarter. Therefore, while the Advance of the GDP preview fundamentally seeks to provide information quickly, the Quarterly Accounts seek to provide an integrated and coherent estimate on both the offer and demand sides.