Industrial Production Index Rises 2.5% in June MoM

Doha: The Industrial Production index (IPI) for June 2024 reached 96.1 point, increased by 2.5 percent compared to the previous month (May 2024), and decreased by 7.5 percent, when compared to the corresponding month in 2023. This index measures the growth of the various industrial economic sectors that make it up, namely the mining and quarrying sector, with a relative weight of 82.46 percent; the manufacturing sector, with a relative weight of 15.85 percent; the electricity, gas, steam and air conditioning supply sector, which represents 1.16 percent of the index with the water supply sector constituting the remaining 0.53 percent. Data released by the National Planning Council showed that the mining sector increased 4 percent compared to the previous month (May 2024), due to the increase in the quantities of "crude oil petroleum and natural gas" by 4 percent, while "Other mining and quarrying" decreased by 5.1 percent. Mining did decrease 8.3 percent year-over-year, due to the decrease in the quantities of "crude oil petroleum and natural gas" and "Other mining and quarrying" decreased by 11.2 percent. Manufacturing for its part declined 5.7 percent compared to the previous month (May 2024), The groups showed a decrease include: "Manufacture of basic metals" by 10.3 percent, followed by "Manufacture of Cement and other non-metallic mineral products" by 8.7 percent, "Manufacture of refined petroleum products, and "Manufacture of chemicals and chemical products "by 5.0 percent each, "Printing and reproduction of recorded media" by 2.6 percent, "Manufacture of food products" by 1.2 percent, and "Manufacture of rubber and plastics products" by 0.7 percent. However, an increase was recorded in "Manufacture of beverages" by 0.5 percent. Year-over-year, a decrease of 5.1 percent was recorded, due to the decrease in "Manufacture of basic metals" by 22.8 percent, followed by "Manufacture of Cement and other non-metallic mineral products" by 12.3 percent, Printing and reproduction of recorded media. by 9.1 percent , "Manufacture of refined petroleum products" by 3.0 percent, "Manufacture of rubber and plastics products" by 1.6 percent, and "Manufacture of chemicals and chemical products" by 0.6 percent. However, an increase was recorded in "Manufacture of food products" by 1.6 percent. No change noticed in "Manufacture of beverages" Electricity and gas supply sector meanwhile saw an increase of 18.6 percent in the production of "Electricity" between June 2024 and the previous month (May 2024). Compared with the corresponding month (June 2023), an increase of 14.2 percent was recorded. Water Supply meanwhile saw a decrease of 4.3 percent between June 2024 and the previous month (May 2024). Compared with the corresponding month (June 2023), a decrease of 5.3 percent was recorded. Source : Qatar News Agency