Press release dated 04/01/2011

INDUSTRIAL PRODUCTION INDEX OF THE BASQUE COUNTRY (IPI) NOVEMBER 2010

Industrial activity in the Basque Country rose by 1.8% in November 2010

Compared to the previous month, October 2010, industrial production in the Basque Country increased by 2.3%

Industrial production in the Basque Country rose by 1.8% in November 2010 compared to the same month of 2009 in homogenous terms of the working calendar, according to Eustat data. Compared to the previous month, October 2010, industrial production in the Basque Country fell by 2.3%, once corrected for seasonal effects.

By sectors, and using the major industrial sector classification, the evolution of the index for November 2010 compared to November 2009 was only positive for Intermediary Goods, which grew by 9.0%. Energy fell by 1.0%, Capital Goods were down by 3.1% and Consumer Goods shrunk by 0.3% over all, as a result of the decrease posted by Consumer Durables (-19.7%), while Consumer Non-Durables rose by 5.6%.

Month-on-month fluctuations in November 2010, compared to October 2010, were also negative in the main industrial sectors: Intermediary Goods rose by 3.1%, Capital Goods by 2.9%, Energy prices by 0.9% and Consumer Goods by 3.5%, as a result of the rise registered by the prices of Consumer Non-Durables (5.0%), as Consumer Durables fell by 2.8%.

The key sectors that registered greatest growth in November 2010 compared to the same month of the previous year were Oil Refinery and Chemical Industry, with rates of 67.7% and 19.0%, respectively.



On the other hand, Non-Metal and Metal Minerals (-37.9%) and Other Manufacturers(-16.8%) posted the largest year-on-year falls.

By province, the November year-on-year performance for the Industrial Production Index was positive in Álava, up 5.4% and in Bizkaia, where it rose 2.4%. It fell by 1.0% in Gipuzkoa. The month-on-month growth rate was positive in the three provinces: It was up 4.5% in Álava compared to October 2010, while it rose by 1.8% in both Bizkaia and Gipuzkoa.

For further information:

Basque Statistics Office C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Tlf:+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 Further press releases on Industrial Production Index of the Basque Country (IPI). Databank on Industrial Production Index of the Basque Country (IPI)