Press release 04.05.12

INDUSTRIAL PRODUCTION INDEX OF THE BASQUE COUNTRY (IPI) MARCH 2012

Industrial activity in the Basque Country fell by 7.6% in March 2012

Compared to the previous month, February 2012, the industrial production of the Basque Country fell by 2.4%

Industrial production of the Basque Country in March 2012 was down by 7.6% compared to the same month of 2011, in homogenous terms of the working calendar, according to Eustat data. Compared to the previous month, February 2012, the industrial production of the Basque Country fell by 2.4%, once seasonal effects had been corrected.

By sector, and using the classification of the major industrial sectors, the evolution of the index for March 2012 compared to March 2011 shows noticeable differences. Equipment Goods were down by 8.2%, Intermediate Goods fell by 7.9% and production of Consumer Goods as a whole fell by 4.8% due to the drops experienced both by Consumer Durables, which were down by 6.0%, and Consumer Non-Durables, which fell by 4.5%. Energy fell by 13.2%.

The month-on-month variation in March 2012, compared to February 2012, also registered distinct changes for the main industrial groups. Equipment Goods fell by 3.9%, Intermediate goods fell by 1.1% and Energy by 2.3%, whereas Consumer Goods overall were up by 3.9%, Consumer Non-Durables rose by 4.9% and Consumer Durables posted an upturn of 0.1%.

Amongst the relevant sectors that experienced growth in March 2012 compared to the same month of the previous year special mention should be made of Electrical Equipment & Material, which was up 5.9%, and Machinery & Equipment and Electricity, Gas & Steam, which both posted increases of 5.5%.

On the other hand, there were decreases in the Transport Material sector, which posted a year-on-year drop of 11.4%, the Metallurgy & Metal Products sector, which fell by 9.2%, and the Timber, Paper & Graphic Arts sector, which registered a fall of 8.4%.

By province, the March year-on-year performance for the Industrial Production Index was negative in the three provinces: it was down by 9.7% in Gipuzkoa, 8.2% in Bizkaia and 2.6% in Álava. The month-on-month growth rate was negative in Gipuzkoa, where it fell by 5.8%, whilst there were rises in Bizkaia and Gipuzkoa of 0.9% in both cases, compared to February 2012.

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.eus Contact: Gerardo Pérez Aja Tel: +34-945-01 75 06 Fax:+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)