1. Performance of Industrial Production Index
The Industrial Production Index (IPI) in July 2008
rose 1.8% year-on-year, after a 2.2% increase in June
2008. The growth was contributed by positive increases
in all the three components: Manufacturing index (1.5%),
Electricity index (1.3%) and Mining index (3.1%).
Month-on-month, the IPI registered an increase of
1.6%, after a negative growth of 1.1% recorded in
the previous month. The cumulative growth for the
period January – July 2008 was 4.2% over the
corresponding period of 2007.
2. Performance of Manufacturing Index
The Manufacturing index in July 2008 was 1.5% higher
compared with the same month in 2007. The index increased
marginally by 0.2% as compared to a month ago.
The growth of the Manufacturing sector was supported
by the increases in the Television, radio, sound or
video recording or reproducing apparatus (44.7%);
Manufacture of other fabricated metal products (25.9%)
and Processing of food, oils and fats (10.8%).
3. Performance of Mining Index
The July index for the Mining sector went up by 3.1%
as compared with the corresponding month in 2007.
The increase was mainly due to the crude oil index
(7.6%). Year-on-year, the natural gas index declined
by 4.4% as compared to July 2007, while month-on-month,
the index dipped 1.9%. For the first seven months
of 2008, the cumulative growth of the mining sector
was 1.9% as against the same period of 2007.
4. Performance of Electricity Index
The July index for the Mining sector went up by 3.1% as compared with the corresponding month in 2007. The increase was mainly due to the crude oil index (7.6%). Year-on-year, the natural gas index declined by 4.4% as compared to July 2007, while month-on-month, the index dipped 1.9%. For the first seven months of 2008, the cumulative growth of the mining sector was 1.9% as against the same period of 2007.
