Industrial production in the A.C. of the Basque Country in December 2007 decreased by 1.3% in relation to the same month of 2006, in homogenous terms of the working calendar, according to Eustat data. The accumulated growth rate for 2007 as a whole, as regards the previous year, was 2.8%.

In December 2007, compared to November, industrial production in the A.C. of the Basque Country grew by 1.0%, once seasonal effects had been corrected.

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

Source: Eustat

By sector, bearing in mind the classification of the major industrial sectors, the evolution of the index in December 2007 as regards December 2006 showed the following variations: Capital Goods grew by 0.5%; Intermediate Goods suffered a 1.3% decrease; Energy obtained a negative inter-annual variation of 2.3% and Consumer Goods reduced by 4.1%, due to the sharp fall experienced by Consumer Durable Goods (-16.7%), while Consumer Non-durable Goods rose by 2.5%.

The inter-monthly variation for December 2007, in relation to November, showed differing patterns for the major industrial sectors. There was growth for Capital Goods (2.0%), Intermediate Goods remained unchanged (0.0%), Energy fell by 0.8%, while Consumer Goods increased by 4.1% as a result of the rises experienced by Consumer Non-durable Goods (6,7%), since Consumer Durable Goods suffered a 1.3% decrease.

By province, inter-annual evolution for the December Industrial Production Index showed a positive pattern in Álava, where it rose by 1,0%, In Bizkaia it diminished by 0.6%, while in Gipuzkoa it decreased by 3.3%. Inter-monthly growth rates were positive in Álava (4.7%) and Bizkaia (0,5%), whereas in Gipuzkoa the pattern was negative (-0.4%).

Balance for industrial activity in 2007

The balance for 2007 in the A.C. of the Basque Country offers an accumulated increase in the Industrial Production Index of 2.8%, a lower rate than that achieved the previous year (4.1%).

The major industrial sectors showed differing types of variation for the annual accumulated result Capital Goods grew by 6.4% and Intermediate Goods did so by 3.7%. Energy diminished by 2.8% and Consumer Goods, as a whole decreased by 2.6%. Within these, the decrease of Consumer Durable Goods was 2.8%, while Consumer Non-durable Goods decreased by 2.5%, in all cases regarding 2006.

Accumulated variations in 2007 were positive for all three provinces, with 3.7% growth in Gipuzkoa, an increase of 2.5% in Bizkaia and a 1.7% rise in Álava.

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

(1) Inter-annual variation rate for the period accumulated from January to the latest month of year t in relation to the same period of year t-1

Source: Eustat