Industrial Production Index Increased by 3.08% in November 2024
The Department of Statistics issued its monthly report on the Industrial Production Index (IPI) of November 2024, which observed an increase by 3.08% compared to November 2023 and an increase by 0.86% compared to October 2024. On the accumulative level for the first eleven months of 2024, the IPI had increased by 0.81% compared to the same period of 2023, noting that the base year was amended to be (2018=100) instead of (2010=100).
Thus, the IPI of November 2024 had reached 87.91 percentage points against 85.29 in November 2023. The IPI of November 2024 also recorded 87.91 against 87.17 in October 2024. On the accumulative level for the first eleven months of 2024, the IPI reached 87.65 against 86.94 for the same period in 2023.
On the domain of the monthly change, the IPI of November 2024 increased compared to the same month of 2023 due to the increases in the production quantities of “Manufacturing Industries” by 2.81% with a relative importance of 88.7%, “Quarrying Industries” by 1.92% with a relative importance of 5.4%, and “Electricity Industry” by 8.33% with a relative importance of 5.9%.