Industrial production in the A.C. of the Basque Country grew by 3.7% in May 2007 with regard to the same month of 2006 in homogenous terms of the working calendar, according to EUSTAT data. Accumulated growth for the first five months of the year was 4.4% in relation to the same period of 2006.

In May 2007, compared to April, industrial production in the A.C. of the Basque Country grew by 3.1%, once seasonal effects had been corrected.

The balance of industrial activity for the first five months of the year closed with a 4.4% increase in the inter-annual rate, helped chiefly by the notable performances of Capital Goods and Intermediate Goods and despite the negative rates shown by the energy sector and by Consumer Goods (especially Consumer Non-Durable Goods).

Corrected inter-annual quarterly growth of the Industrial Production Index of the A.C. of the Basque Country

(*) Corrected inter-annual growth for April-May 2007

Source: Eustat

Sector evolution

By sector, and using the classification of the major industrial sectors, the evolution of the index for May 2007 compared to May 2006 shows growth for Capital Goods (5.9%) and Intermediate Goods (5.9%), whereas Energy fell by 1.7% and Consumer Goods did so by 3.8%, as a result of the decrease suffered both by Consumer Non-Durable Goods (-4.6%) and by Consumer Durable Goods (-2.4%).

Inter-monthly variations in May 2007, compared to April 2007, were positive for all the major industrial sectors. Capital Goods rose by 3.8%, Intermediate Goods increased by 1.8%, Energy did so by 0.7% and Consumer Goods increased by 4.1% with regard to April. Of the two component parts of Consumer Goods, Consumer Durable Goods experienced a 0.6% inter-monthly rise, while Consumer Non-Durable Goods increased by 6.0%, in comparison to April.

Evolution by province

The pattern of inter-annual evolution of the Industrial Production Index by province was positive for all three, growing 5.2% in Gipuzkoa, 4.1% in Bizkaia and also increasing in Álava, albeit much more modestly (0.1%).

Inter-monthly growth, May 2007 in relation to April 2007, was also positive for all three provinces: it increased by 2.4% in Álava, 2.5% in Bizkaia and 4.2% in Gipuzkoa.

Table: MAY 2007. Variation rates (%) of the Industrial Production Index of the A.C. of the Basque Country

(1) Variation rate for the period accumulated from May to the last month of year t in relation to the same period of year t-1

Source: Eustat