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Press Release 04/03/2015

INDUSTRIAL PRODUCTION INDEX, JANUARY 2015

Industrial activity in the Basque Country rose by 3.0% in January 2015

Compared to the previous month, the industrial production index of the Basque Country grew by 0.5%

Industrial production of the Basque Country in January 2015 was up by 3.0% compared to the same month of 2014, in homogenous terms of the working calendar, according to Eustat data. Compared to the previous month, December 2014, the industrial production of the Basque Country grew by 0.5%, once seasonal effects had been corrected.

The evolution of the index for January 2015 compared to January 2014 showed positive evolutions for Energy which was up 12.0%, for Intermediate Goods, which rose by 1.5%, and for Consumer Goods as a whole which rose by 9.0%; this latter rise was due to the upturn seen, above all, in Consumer Durables, which increased by 22.1%, as Consumer Non-Durables also rose but far more moderately (4.9%). The index corresponding to Capital Goods, however, decreased by 3.1%.

The month-on-month variation in January 2015, compared to December 2014, was also positive for most of the large industrial sectors. Energy rose by 11.4%, Intermediate Goods grew by 3.4% and Consumer Goods as a whole were up by 3.9% due to the fact that Consumer Durables increased by 4.9% and Consumer Non-Durables by 3.6%. On the other hand, Capital Goods registered a decrease of 7.9%.

Among the largest sectors in Basque industry, those that saw the most significant growth in the month of January 2015 with regards to year-on-year variations, were: Electricity, Gas & Steam, which posted a positive rate of 9.2%, Food, Beverages & Tobacco which rose by 4.6% and Metallurgy & Metal Products which was up 3.3%.

Table 1. Industrial production in the Basque Country. Key Sectors. Year-on-year variation rates. A-38 Sectorisation. Provisional Data
Source: Eustat. Industrial production index of the Basque Country (IPI)

On the other hand, the largest decreases were produced in theTransport Material sector, which posted a year-on-year drop of 6.7%, and in Machinery & Equipment, which registered a fall of 5.9%.

By province, the year-on-year performance of the Industrial Production Index for the month of January was negative in Álava, where it fell by 6.8%. In Bizkaia it rose by 6.1% and in Gipuzkoa it was up by 5.2%. The month-on-month variation rate was also negative in Álava, where it dropped by 0.4%, whilst in Bizkaia it increased by 1.4% and in Gipuzkoa it was up by 0.1% with regards to December 2014.