Press release 08/01/2021
INDUSTRIAL PRODUCTION INDEX. NOVEMBER 2020
Industrial activity in the Basque Country fell by 7.4% in November 2020
Compared to the previous month, October 2020, the industrial production index of the Basque Country showed no significant change (0.0%)
Industrial production of the Basque Country in November 2020 was down 7.4% compared to the same month of 2019, in homogeneous terms of the working calendar, according to Eustat data. This was the ninth consecutive negative year-on-year rate (since March 2020)
Comparing November 2020 with the previous month, October 2020, the industrial production of the Basque Country showed no significant change (0.0%).
The balance for the first eleven months of 2020 closed with an accumulated contraction of 13.9% in industrial activity.
The index showed a downward trend for all the major industrial sectors in November 2020 compared to November 2019. Energy, which includes activities such as supply of electrical power and oil refining, fell by 9.6%. Intermediate Goods; which includes the activities of metallurgy, manufacture of metal products, chemical industry and manufacture of rubber and plastic products, posted a year-on-year decrease of 6.3%. Capital Goods; among which it is worth mentioning the manufacture of motor vehicles, construction of locomotives and railway material, naval construction and manufacture of aircraft; dropped by 6.2%.
Finally, Consumer Goods, as a whole, shrank by 5.2%. Among the latter, Consumer Non-durables fell by 5.9%, whilst Consumer Durables were down 2.6%. Included in the large sector of Consumer Non-Durables are the preparation, processing and conservation of foodstuffs; manufacture of cleaning and hygiene products; and manufacture of clothing. Within Consumer Durables are the activities of manufacture of furniture, domestic appliances.
The month-on-month variation, once corrected for seasonal effects, showed no negative trends in any of the major industrial sectors. Energy rose by 10.2% and Capital Goods increased by 0.3% Production of Consumer Goods, as a whole, was up 0.1%, due to the 3.1% increase in Consumer Durables, given that Consumer Non-Durables were down 0.6%. Intermediate Goods remained unchanged (0.0%) in November compared to October 2020.
At a more disaggregated level, among the largest sectors in Basque industry, the only one that performed positively in year-on-year terms in November 2020, was Rubber and Plastics with an increase in its production of 1.2%. In contrast, the sectors with most weight that registered the greatest decreases, once corrected for the corresponding calendar effects, were: Electricity, Gas & Steam, which decreased by 14.4%; Metallurgy & Metal Products, down 10.6%; and Food, Beverages & Tobacco, down 9.6%.
By province, the year-on-year performance of the Industrial Production Index for November 2020 was negative in the three provinces. In Bizkaia there was a decrease of 10.1%, in Gipuzkoa there was a fall of 5.9% and, finally, in Álava it was down 5.3%.
In month-on-month terms, November 2020 compared to October 2020, and once corrected for seasonal effects, there was an increase in production of 1.1% in Bizkaia. In contrast, Álava registered a decrease of 1.3% and Gipuzkoa a fall of 0.3%.
NOTE:
The models used in the correction of calendar effects and deseasonalisation of the series include the effect of COVID-19 on the variables studied, following the recommendations of the Statistical Office of the European Union (Eurostat) (Eurostat) in its methodological note Guidance on Time Series Treatment in the context of the COVID-19 crisis..
Eustat would like to thank all the establishments that have collaborated in making this effort despite the circumstances. As a result, the November index was calculated with 90.87% coverage of the sample - whose information was collected during December.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.es Tel: 945 01 75 62