Industrial production in the A.C. of the Basque Country in November 2007 decreased by 0.7% as regards the same month of the previous year in homogenous terms of the working calendar, according to EUSTAT data. In the first eleven months of the year accumulated growth was 3.1% in relation to the same period of 2006.

In November 2007, compared to October, industrial production in the A.C. of the Basque Country fell by 2.0%, once seasonal effects had been corrected.

The balance of industrial activity for the first eleven months of the years closed with a 3.1% increase in the inter-annual rate, based on the notable performance of Capital Goods (+6.9%) and Intermediate Goods (+4.0%) and despite the negative rates shown by the energy sector (-2.9%) and by Consumer Goods (-2.5%).

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

(*) Corrected inter-annual growth for October-November 2007

Source: Eustat

Sector evolution

By sector, and using the classification of the major industrial sectors, industrial evolution of the index for November 2007 compared to November 2006 shows growth for Energy, which rose by 4.6%. Capital Goods fell by 1.4%, Intermediate Goods decreased by 0.3% and Consumer Goods fell by 4.2%, as a consequence of the decrease suffered by Consumer Durable Goods (-8.6%), since Consumer Non-Durable Goods fell more modestly (-1.7%).

Inter-monthly variations in November 2007, in relation to October 2007, were negative for all the major industrial sectors, except for Energy, which rose by 5.6%. Capital Goods fell by 3.8%, Intermediate Goods diminished by 1.6% and Consumer Goods decreased by 5.6%. Of the two component parts of Consumer Goods, Consumer Durable Goods experienced an inter-monthly decrease of 4.9%, while Consumer Non-Durable Goods fell by 5.9%.

Evolution by province

By province, inter-annual evolution of the Industrial Production Index performed positively in Gipuzkoa, which grew by 0.1%; in Bizkaia there was no variation (0.0%) and in Álava there was a 3.6% decrease.

Inter-monthly rates, November 2007 in relation to October 2007, showed a negative pattern in all three provinces: in Álava it fell by 5.0%, in Gipuzkoa it did so by 1.6% and in Bizkaia it diminished by 0,9%.

Table: NOVEMBER 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 January to the latest month of year t in relation to the same period of year t-1

Source: Eustat