Industrial production in the A. C. of the Basque Country fell by 5.2% in October 2008 compared to the same month of 2007 in homogenous terms of the working calendar, according to EUSTAT data.
Compared to the previous month, September 2008, industrial production in the A.C. of the Basque Country fell by 0.7%, once seasonal effects had been corrected.
The first ten months of 2008 ended with an accumulated fall in the Industrial Production Index of 0.8% with respect to the ten months of the previous year.
Graph 1: Year-on-year quarterly growth of the corrected Industrial Production Index of the A.C. of the Basque Country
(*) Corrected year-on-year growth for October 2008
By sector, and based on the major industrial sector classification, the evolution of the index for October 2008 compared to October 2007 shows growth for Energy (8.0%) and Capital Goods (1.3%). Intermediary Goods dropped by 11.0% and Consumer Goods decreased by 6.7%, as a result of the decrease suffered by Consumer Durable Goods (-18.8%) and Consumer Non-durable Goods (-1.2%).
The month-on-month fluctuations in October 2008, with respect to September 2008, were: Capital Goods rose by 3.1% and Consumer Goods by 2.0%, as a result of the increase experienced by Consumer Non-Durable Goods (3.1%) as Consumer Durable Goods fell by 1.0%. Intermediary Goods fell by 3.0% and Energy was down by 4.3%.
Evolution by province
The pattern of the year-on-year evolution of the Industrial Production Index by province was negative in the three provinces: Álava decreased by 1.4%, Bizkaia by 4.1% and Gipuzkoa was down by 8.4%.
In terms of the year-on-year evolution, October 2008 compared to September 2008, the territories performed differently, as it rose in Álava by 2.9%, while it fell in Bizkaia and Gipuzkoa by 1.6% and 1.5%, respectively.
Table: October 2008. Variation rates (%) for the Industrial Production Index of the A.C. of the Basque Country
(1) Year-on-year variation rate of the accumulated period from January to the last month of year t compared to the same period of the year t-1
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