Industrial production down 3.4% in 2Q

Saturday, 20 August 2022 01:29 - - {{hitsCtrl.values.hits}}

The industrial production of the manufacturing sector for the second quarter of 2022 has decreased by 3.4% compared to a year earlier.

As per the Index of Industrial Production (IIP) compiled by the Department of Census and Statistics, among the manufacturing industries; volume of products of ‘Tobacco products’ (45.9%), has shown a remarkable increase in production during the second Quarter of 2022, compared to second Quarter of 2021 and volume of products of ‘Manufacture of coke and refined petroleum products’ (75.6%), reported a decrease during this period.

In June, the volume of industrial production decreased by 0.8% as against a year ago. Among the manufacturing industries, volume of products of ‘Beverages’ (136.0%),’ Tobacco products’ (89.6%) have shown remarkable increases, while ‘Manufacture of fabricated metal products’ (54.8%) has reported decrease during this period.

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