Monday , October 7 2024

IIP: Industrial production slows down, falls to 4.8 percent in July

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Industrial Production: The country’s industrial production growth rate slowed down to 4.8 percent in July this year due to poor performance in the mining and manufacturing sectors. These industrial production figures were released by the National Statistical Office ( NSO ) on Thursday. Factory production measured in terms of the Index of Industrial Production ( IIP ) grew by 6.2 percent in July 2023.
According to an official statement, the country’s industrial production index grew by 4.8 percent in July this year. Official data shows that the production of the manufacturing sector grew by 4.6 percent in July, while it grew by 5.3 percent in the same month a year ago. The growth rate of the mining sector stood at 3.7 percent in July 2024 while power generation registered a growth of 7.9 percent.
The country’s industrial production grew by 5.2 percent in the first four months (April-July) of the current financial year, whereas in the same period a year ago it had increased by 5.1 percent.