Press Release 04/03/2009

INDUSTRIAL PRODUCTION INDEX (IPI) JANUARY 2009

Industrial activity in the Basque Country fell by 22.7% in January 2009

A 1.3% downturn with respect to the previous month, December 2008

Industrial production in the Basque Country fell by 22.7% in January 2009 compared to the same month of 2008 in homogenous terms of the working calendar, according to EUSTAT data.

Compared to the previous month, December 2008, industrial production in the Basque Country fell by 1.3%, once seasonal effects had been corrected.

Year-on-year quarterly growth of the corrected Industrial Production Index of the Basque Country

(*) Corrected year-on-year growth, January 2009

Source: EUSTAT

Sector evolution

By sector, and using the major industrial sector classification, the evolution of the index for January 2009 compared to January 2008 showed decreases in all sectors: Intermediate Goods fell by 27.9%, Capital Goods by 23.4% and Energy dropped by 9.7%. Consumer Goods were down by 15.8%, as the result of the decrease in Consumer Non-Durables (-12.0%) and, particularly, of the drop in Consumer Durables (-25.3%).

The month-on-month variations in January 2009, compared to December 2008, were positive for Intermediate Goods (0.1%) and negative for Capital Goods (-3.0%) and Energy (-5.5%), while Consumer Goods recorded a 0.3% downturn with respect to December 2008.

Of the two component parts of Consumer Goods, Consumer Durables recorded a 4.1% month-on-month decrease, while Consumer Non-Durables increased by 1.1%, compared to last December.



Evolution by province

The pattern of the year-on-year evolution of the Industrial Production Index by province was negative in the three provinces: it was down by 27.4% in Álava, by 22.4% in Bizkaia and by 20.6% in Gipuzkoa.

The intensity of the month-on-month downturn rate, January 2009 compared to December 2008, was different in the three provinces, as it fell by 2.5% in Bizkaia, 1.2% in Álava and was down by 0.1% in Gipuzkoa.

Table: JANUARY 2009. Variation rates (%) of the Industrial Production Index of the Basque Country.

(1) Year-on-year variation rate of the accumulated period from January to the last month of year t compared to the same period of the year t-1

Source: EUSTAT

For further information:

Basque Statistics Office C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Tel.: +34-945-01 75 00 Fax: +34-945-01 75 01 E-mail: eustat@eustat.es Contact: Gerardo Pérez Aja T el:+34-945-01 75 06 F ax:+34-945-01 75 01 Online press releases: www.eustat.es Databank: www.eustat.eus/bancopx/english/indice.aspx