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Harmonised competitiveness indicators based on unit labour costs indices for the total economy¹⁾: Spain

(period averages; index 1999 Q1=100)

2012	Q1	Q2	Q3	Q4
Notes: For the euro area, the real effective exchange rate of the euro vis-à-vis 20 trading partners is displayed. For euro area countries, the table shows the harmonised competitiveness indicators calculated vis-à-vis the same 20 trading partners plus the other euro area countries. A positive change points to a decrease in cost competitiveness. For further information please refer to the explanatory note.
1. Period average	102.5	99.9	98.0	94.8
2. Percentage change versus previous period	-0.9	-2.5	-2.0	-3.2
3. Percentage change versus previous year	-4.8	-7.5	-7.7	-8.3
4. Percentage change since 1998 Q4	2.1	-0.5	-2.4	-5.5