Quarterly Index of Industrial Production (QIIP), 3rd Quarter 2024
Highlights
(Year 2018 = 100)
The Economic and Social Indicators on Quarterly Index of Industrial Production (QIIP) aims at measuring, on a quarterly basis, the changes in the volume of real output of the Industrial Sector comprising "Mining and quarrying", "Manufacturing", "Electricity, gas, steam & air conditioning supply" and "Water supply; sewerage, waste management and remediation activities". Please find below the highlights
2. In the third quarter of 2024, the overall index of industrial production increased by 3.6% compared to the previous quarter and grew by 2.3% when compared to the corresponding quarter of 2023.
3. The performance of the sub-sectors within the industrial sector is as follows:
|
Growth rate (%) third quarter 2024 |
|
Over corresponding quarter 2023 |
Over previous quarter |
|
Mining and quarrying |
+13.1 |
+3.3 |
|
Manufacturing |
+2.1 |
+3.6 |
|
Electricity, gas, steam & air conditioning supply |
+1.7 |
+6.9 |
|
Water supply; sewerage, waste management and remediation activities |
+2.3 |
-5.3 |
Industrial Sector |
+2.3 |
+3.6 |
4. The index for the year ending third quarter 2024, which is the average of quarterly indices for the period under review, increased by 2.6%. This is explained by expansions in “Electricity, gas, steam and air conditioning supply" (+5.0%), “Manufacturing" (+2.4%), and “Water supply; sewerage, waste management and remediation activities" (+3.0%).
18 December 2024
