The industrial activity of the Basque Country registered a year-on-year decrease of 7.9% in October

The industrial production of the Basque Country fell 7.9% in October With respect to the same month last year, according to data prepared by Eustat, eight months have already registered negative rates this year. The balance until October closes with a 14.6% cumulative contraction. Comparing October with September, the production increased 0.6%.

By province, the interannual evolution was negative in all three. Thus, in Bizkaia there was a drop of 13.5% (mainly influenced by the behavior of the energy sector-Petronor), in Gipuzkoa, the decrease was 5.3% and, finally, in Álava of 2.6%.

In month-on-month terms, October 2020 compared to September 2020, in Bizkaia there was an increase in production of 1.7%, in Álava of 0.9% and in Gipuzkoa a decrease of 0.6% was observed.

Sectors

The evolution of the index for October 2020 compared to October 2019 shows a negative sign for all major industrial sectors. The ‘Energy’ decreased by 26.8%, which includes activities such as electricity supply and oil refining. Both the ‘Intermediate goods’ -metallurgy, the chemical industry and the manufacture of rubber and plastic products-, as well as the ‘Consumer goods’ as a whole they presented a year-on-year decrease of 6.8%.

Within the latter, those for non-durable consumption, among which are food processing and preservation; the manufacture of cleaning and hygiene products, as well as the manufacture of clothing, decreased by 7.5%. Durable consumer goods did so by 3.7%. Here are the activities of furniture manufacturing and household appliances.

The ‘Equipment goods’, a key sector for the Basque economy, decreased 5%. These include the manufacture of motor vehicles, the construction of locomotives and railway equipment, as well as aeronautical or naval construction.

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