Industrial production in July 2007 in the A.C. of the Basque Country decreased by 1.3% as regards the same month of 2006 in homogenous terms of the working calendar, according to EUSTAT data. In the first seven months of the year accumulated growth was 3.7% in relation to the same period of 2006.

In July 2007, compared to June, industrial production in the A.C. of the Basque Country fell by 4.3%, once seasonal effects had been corrected.

The balance of industrial activity for the first seven months of the year closed with a 3.7% increase in the inter-annual rate, based on the outstanding performance of Capital Goods and Intermediate Goods and despite the negative rates shown by the energy sector and by Consumer Goods (especially by Consumer Non-Durable Goods).

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

(*) Inter-annual growth corrected for July 2007

Source: Eustat

Sector Evolution

By sectors, using the classification of the major industrial sectors, the evolution of the index for July 2007 in relation to July 2006 only shows growth for Capital Goods, which rose by 3.3%; Intermediate Goods fell by 2.1%, Energy decreased by 2,8% and Consumer Goods by 7.3%, as a consequence of the fall experienced by both Consumer Durable Goods (-8.0%) and Consumer Non-Durable Goods, which fell by 7.0%.

Inter-monthly variations for July 2007, in relation to June 2007, were negative for all the major industrial sectors. Energy decreased by 2.8%, Capital Goods fell by 3.2%, Intermediate Goods diminished by 3.7% and Consumer Goods dropped by 5.3% as regards June. Of the two component parts of Consumer Goods, Consumer Durable Goods suffered an inter-monthly fall of 8.6%, while Consumer Non-Durable Goods decreased by 3.6%, in comparison to June.

Evolution by province

The inter-annual evolution of the Industrial Production Index differed in performance from province to province, growing by 0.6% in Gipuzkoa and falling by 0.7% in Bizkaia and 5.9% in Álava. Corrected figures for Álava reflect the impact of the Santiago holiday in Vitoria-Gasteiz on July 2007.

Inter-monthly figures, July 2007 in relation to June 2007, showed a negative pattern in all three provinces: there was a fall of 7.9% in Álava, 3.5% in Bizkaia and 3.2% in Gipuzkoa.

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

Inter-annual variation rate for the period accumulated from April to the last month of year t in relation to the same period of year t-1

Source: Eustat