Press Release 03/10/2024
INDUSTRIAL PRODUCTION INDEX. AUGUST 2024
Industrial activity in the Basque Country increased by 0.1% in August 2024
Compared to the previous month, industrial production rose by 0.5%
In August 2024, the industrial production of the Basque Country was up 0.1% compared to the same month of the previous year, in homogeneous terms of the working calendar, according to Eustat data.
In relation to the previous month, once corrected for seasonal effects, industrial activity in the Basque Country increased by 0.5% last month.
By economic destination of goods, production in Consumer Goods posted a negative year-on-year performance in August 2024, with a 1.6% decrease in production for the sector as a whole. This decrease was due to the performance of both Consumer Durables and Consumer Non-durables, which fell by 9.6% and 0.3% respectively. Consumer Durables includes, among other activities, the manufacture of furniture and domestic appliances. Consumer Non-durables includes the activities of processing and conserving foodstuffs; the manufacture of cleaning and hygiene products; pharmaceutical products; and the manufacture of clothing.
Production of Capital Goods, which include the manufacture of motor vehicles, construction of locomotives and railway material, naval construction and manufacture of aircraft, increased by 0.2% compared to the previous August.
In Intermediate Goods, which includes metallurgy and manufacture of metal products, the chemical industry and manufacture of rubber and plastic products, production rose by 1.9%.
Finally, Energy production decreased in July 2024, falling by 3.1% in relation to the same month of the previous year. This sector includes the production and supply of electricity and oil refining.
Industrial production index of the Basque Country by province and economic destination of the goods. Rates of variation (p). August 2024
| | Data corrected for calendar effects | Deseasonalised data |
| | m / m-12 | Am / A(m-12) | m / m-1 |
| GENERAL INDEX | | | |
| Basque Country | 0,1 | -0,2 | 0,5 |
| Araba/Álava | 3,8 | -1,7 | 2,9 |
| Bizkaia | -1,3 | -1,4 | -0,3 |
| Gipuzkoa | -0,3 | 1,8 | 0,0 |
| INDEXES BY ECONOMIC DESTINATION OF THE GOODS | | | |
| Consumer goods | -1,6 | -1,9 | -0,2 |
| Durable consumer goods | -9,6 | -7,0 | -0,9 |
| Nondurable consumer goods | -0,3 | -0,8 | 0,0 |
| Equipment goods | 0,2 | 2,9 | -1,9 |
| Intermediate goods | 1,9 | -1,3 | 2,0 |
| Energy | -3,1 | 0,2 | -1,7 |
(p)Provisional data
m / m-12 Year-on-year variation rate of the last observed month (m) compared to the same month of the previous year (m-12)
Am / A(m-12) Year-on-year variation rate for the accumulated period from January to the last month observed (Am) with respect to the same accumulated period in the previous year (A(m-12))
m / m-1 Variation rate of the last observed month (m) compared to the previous month (m-1)
Date October 3, 2024
Source: Eustat. Industrial production index
The year-on-year evolution of the Industrial Production Index in August 2024 was positive in Álava, with a 3.8% increase in production. However, in Bizkaia and Gipuzkoa, industrial production was down 1.3% and 0.3%, respectively.
Industrial production index of the Basque Country. Key A38 Sectors (1). Year-on-year growth rates (p). August 2024
| | m / m-12 |
| Food industry, beverages, tobacco products | 0,0 |
| Timber, paperand printing and reproduction | -1,5 |
| Rubber and plastic | -1,4 |
| Metallurgy and metal products | 4,7 |
| Electrical equipment | -1,6 |
| Machinery and equipment | -0,5 |
| Transport material | -6,5 |
| Electricity, gas and steam | -6,7 |
(p)Provisional data
Data corrected for calendar effects
(1)Sectors with greatest weight in basque industry
Date October 3, 2024
Source: Eustat. Industrial production index
At a more disaggregated level, among the largest sectors in Basque industry, the only one that posted an increase in production in year-on-year terms in August 2024 was Metallurgy and metal products, up 4.7%. In the Food, Beverages & Tobacco sector, production remained at the same level as in August 2023. Conversely, the greatest year-on-year decreases in production were concentrated in Electricity, Gas and Steam, down 6.7% and Transport Material, with a 6.5% drop.
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CUMULATIVE BALANCE IN AUGUST 2024
In the cumulative total for the first eight months of the year, the Industrial Production Index was down 0.2%. Cumulative production until August fell by 1.9% in Consumer Goods and 1.3% in Intermediate Goods. However, Capital Goods performed positively, with a 2.9% rise in production compared to the same cumulative period of the previous year. In Energy, cumulative production until August increased by 0.2%.
By province, the cumulative total for the first eight months of 2024 closed with a negative balance in Álava and Bizkaia, with decreases in production of 1.7% and 1.4% respectively. In contrast, production in Gipuzkoa rose by 1.8% compared to the same cumulative period of the previous year.
NOTE
Eustat would like to thank all the establishments that have collaborated with gathering information. As a result, the index for this month was calculated with 89.29% coverage of the sample.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.eus Tel.: 945 01 75 62