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Press Release 06/05/2015

INDUSTRIAL PRODUCTION INDEX. MARCH 2015

Industrial activity in the Basque Country rose by 1.2% in March 2015

Compared to the previous month, the Industrial Production Index of the Basque Country also rose by 1.7%

Industrial production of the Basque Country in March 2015 was up by 1.2% compared to the same month of 2014, in homogenous terms of the working calendar, according to Eustat data. Compared to the previous month, February 2015, the industrial production of the Basque Country rose by 1.7%, once seasonal effects had been corrected.

Variation in the index for March 2015 compared to March 2014 was positive for Consumer Goods, which as a whole were up 6.8% due to the upturns seen in its two components, Consumer Durables, which increased by 13.8%, and Consumer Non-Durables, which rose by 4.4%. The index corresponding to Capital Goods also increased by 4.0%, but that corresponding to Energy dropped by 8.5% and the index corresponding to Intermediate Goods was down by 0.5%.

The month-on-month variation in March 2015, compared to February 2015, was positive for Capital Goods, which rose by 3.3%; for Intermediate Goods, which grew by 1.4%; and for Energy, which was up by 1.1%. Consumer Goods as a whole dropped by 1.6%, as a consequence of Consumer Durables decreasing by 4.8%, and Consumer Non-Durables by 0.4%.

Among the largest sectors in Basque industry, those that saw growth in the month of March 2015 with regards to year-on-year variations were: Food, Beverages & Tobacco, with an increase of 5.1%, and Machinery & Equipment, which rose by 4.5%.

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

On the other hand, the largest decreases occurred in theTransport Material sector, which posted a year-on-year drop of 8.1%, and in Electricity, Gas & Steam, which fell by 7.7%.

By province, the year-on-year performance of the Industrial Production Index for the month of March showed positive results in Bizkaia, where it increased by 5.0%, and in Gipuzkoa, where the increase was 2.0%, whereas Álava saw a fall of 6.7%. The month-on-month variation rate was also negative in Álava, where it dropped by 1.7%, whilst in Bizkaia it increased by 5.0% and in Gipuzkoa it was up by 0.4% with regards to February 2015.

Table 2. Industrial Production in the Basque Country. Variation rate. Provisional data. March 2015
Source: Eustat. Industrial production index