Press Release 04/04/2014

INDUSTRIAL PRODUCTION INDEX OF THE BASQUE COUNTRY (IPI) FEBRUARY 2014

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Industrial activity in the Basque Country rose by 1.0% in February 2014

Compared to the previous month, the industrial production index of the Basque Country rose by 1.5%

Industrial production of the Basque Country in February 2014 rose 1.0% compared to the same month of 2013, in homogenous terms of the working calendar, according to Eustat data. Compared to the previous month, January 2014, the industrial production of the Basque Country rose by 1.5%, once seasonal effects had been corrected.

The evolution of the index in February 2014 compared to February 2013 was different for the main industrial groups. Intermediate Goods were up by 5.0% and Capital Goods by 3.8%. Energy, however, fell by 8.3% and Consumer Goods as a whole fell by 5.2%, due to the downturn in Consumer Durables, that were down 14.4%, and in Consumer Non-durables whose index registered a negative variation of 1.6%.

The month-on-month variation in February 2014, compared to January 2014, also registered distinct changes for the main industrial groups. Capital Goods registered an increase of 2.3% and Intermediate Goods rose by 0.7%. Consumer Goods as a whole fell by 1.5%, due to the fact that Consumer Non-Durables posted a decrease of 1.8% and Consumer Durables fell by 0.5%. The variation in the Energy index with respect to January was -1.2%.

Among the largest sectors in Basque industry, those that saw the most significant growth in the month of February 2014 with regards to year-on-year variations were: Timber, Paper & Graphic Arts, which posted a positive variation of 11.3%, Transport Equipment, which was up by 0.9% and Metallurgy & Metal Products that grew by 3.0%.

Table 1. Industrial Production in the Basque Country. Key Sectors. Year-on-year variation rates.  A-38 Sectorisation. Provisional Data	
Source: Eustat. Industrial Production in the Basque Country



On the other hand, the largest decreases were produced in theElectrical Material & Equipment sector, which posted a year-on-year drop of 9.4%, Electricity, Gas & Steam, which fell by 7.8%, and the Plastics & Rubber sector, which registered a fall of 2.8%.

By province, the year-on-year evolution of the Industrial Production Index for month of February was positive in Gipuzkoa where it was up 4.7%, and in Álava where it rose by 3.2%; in Bizkaia, however, it fell by 3.7%. The month-on-month rate was positive in Gipuzkoa, with an increase of 4.1%, and in Álava where it grew by 1.7%, whilst in Bizkaia it fell by 1.1% with respect to January 2014.

For further information:

Eustat - Euskal Estatistika Erakundea / Instituto Vasco de Estadística C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel: 945 01 75 62 Further press releases on Industrial Production Index of the Basque Country (IPI) Databank on Industrial Production Index of the Basque Country (IPI)

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Industrial activity in the Basque Country rose by 1.0% in February 2014

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