Monthly Industrial Production Index in September rose by 6.2%

The Industrial Production Index (IPI) for September 2017 stood at 111.9 points, showing a 6.2 percent increase compared to the previous month’s (August 2017) IPI. When compared on yearly basis, the index has surged by 7.4 percent against the corresponding month’s last year, lasted data released by the Ministry of Development Planning and Statistics (MDPS) show.
The IPI index details out the growth of various industrial sectors in an economy such as “Mining”, “Manufacturing”, “Electricity production and “Water production and desalination”.
It is a short-term quantitative index that measures the changes in the volume of production of a selected basket of industrial products over a given period with respect to that in a chosen period called the base period.
The Industrial Production Index consists of three main components, which include mining with a relative weight of 83.6 percent, manufacturing with a relative weight of 15.2 percent, electricity with a relative weight of 0.7 percent, and finally water with a relative weight of 0.5 percent.
The “Mining” sector index showed an increase of 8.3 percent compared to the previous month (August of 2017), as a result of the increase in the quantities of crude oil and natural gas produced by 8.3 percent, and a decrease in “Other mining and quarrying” by 18.3 percent. When compared to the corresponding month of the previous year (September 2016), the IPI of Mining increased by 8.2 percent.
The “Manufacturing” index witnessed a decrease of 3.1 percent in September 2017 compared to the previous month (August-2017), and that was due to the decrease in production of four groups: “Manufacture of Beverages” by 9.1 percent, “Manufacture of Cement and other non-metallic mineral products” by 7.6 percent, “Manufacture of chemicals and chemical products” by 4.9 percent, and “Manufacture of food products” by 3.5 percent. However an increase was recorded in other four groups: “Manufacture of refined petroleum products” by 3.7 percent, “Manufacture of Rubber and plastic products” by 2.1 percent, “Printing and reproduction of recorded media” by 0.9 percent, and “Manufacture of Basic metals” by 0.2 percent.
On the other hand, in terms of annual change, comparing to August 2016, an increase of 3.2 percent was recorded, affected by the following groups: “Manufacture of refined petroleum products” by 36.1 percent, “Manufacture of food products” by 23.5 percent, “Printing and reproduction of recorded media” by 7.4 percent, “Manufacture of basic metals” by 0.4 percent. However a decline recorded in, “Manufacture of Cement & other non-metallic mineral products” by11.2 percent, “Manufacture of Beverages” by 5.2 percent, “Manufacture of chemicals and chemical products” by 2.0 percent, and Manufacture of Rubber and plastic products” by 1.9 percent.
A decrease of 5.2 percent in the production of “Electricity” group was registered in September 2017 compared to previous month, while the annual increase (comparing with September 2016) , was a 13.0 percent.
The “Water” index witnessed a fall of 4.9 percent in September against August. However, a decrease of 6.5 percent was recorded when compared with corresponding month in the previous year.

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