Spain Industry largest fall

SPAIN, the turnover of the industry began the year with the largest fall in its history

Industrial orders and turnover of this sector squarely blamed the crisis in the first month of the year. Both recorded a fall in January to about 30%, which were at their lowest in Series history, according to data from the National Statistics Institute (INE).

In particular, the Spain industry recorded sales in January up 31% less than the same month of 2008, while entry of orders fell 29.7% in the same month. This decline is both the highest since 2002, the year when the National Statistics Institute (INE) began to develop these indicators.

With the decline this month, the billing industry accumulates four months consecutive decline, while the decline was extended two months month for the entry of orders, which accumulates and six months of setbacks.

This behavior is a reflection of declining demand and consumption in a scenario that is marked by the credit crisis and economic downturn.

Depending on the destination of economic goods, the largest decline in revenues suffered as the energy sector, with a decrease of 43.4%, followed by intermediate goods, with a fall of 37.7%. Likewise, the billing of consumer durable goods in January dropped 37.6% and non-durable consumer goods 9.5 percent and capital equipment of 35.3%.

The order entry is also the energy sector led the declines with a decrease of 43.6%. Behind were the segments of capital equipment, with a drop of 40.8%, durable consumer goods (33.2%), equipment (27.6%).

With these new drops in the first months of 2009 consolidates the trend that began in 2008, a year in which industrial turnover, which scored a 2.5% decline, fell for the first time since 2003, while the entry of orders fell 4% and suffered the biggest decline since the series there.

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