Industrial production up 4.4% in November 2017

Industrial production up 4.4% in November 2017

Department of Census and Statistics (dcs) announced that the Index of Industrial Production (IIP) has increased by 4.4% in the month of November, 2017 compared to the same month in 2016. IIP reported for the month of November 2017 and 2016 were 108.9 and 104.3 respectively. The manufacturing industries; ‘Coke and refined petroleum products’,’Fabricated metal products’ and ‘Basic pharmaceutical products’ have shown sharp increases of 26.5%, 23.6% and 17.0% respectively in their volume of production during the month of November, 2017 compared to that of November, 2016. The volume of food products has increased by 3.4%.

However, the volume of the manufacturing industries; ‘Beverages’, ‘Wood and product of wood’ and ‘Furniture’ reported decreases in the month of November 2017 by 21.8%, 12.2% and 11.1% respectively during this period. IIP conveys the status of production in the industrial sector of an economy in a given period of time, in comparison with a fixed reference point in the past.