Industrial Production Index up by 0.44% in 1st 5 Months 2024-DoS

Amman: The General Industrial Production Index increased by 0.44% during the first five months of 2024, reaching 85.50 points, compared to 85.12 points for the same period in 2023. The extractive industries sector saw a "significant" rise, as the production quantities surged by 8.27%. The electricity production sector also showed growth, increasing by 3.57%, while the manufacturing industries sector experienced a "slight" decrease of 0.17% during the same period. According to the Department of Statistics' (DoS) monthly report released on Thursday, the index dropped to 87.20 points in May 2024, down from 89.61 points in May 2023, marking a 2.68% decline. At the sector level, May 2024 saw a 3.01 percent decrease in manufacturing production quantities and a 5.55 percent decrease in extractive industries production. In contrast, the electricity sector's production quantities increased by 5.29 percent. Despite the year-over-year decline in May, the index rose by 3.32 percent from April to May 2024, reaching 87 .20 points from 84.40 points. This monthly increase was driven by a 3.39 percent rise in manufacturing production, a 7.13 percent increase in electricity production, and a 1.68 percent decrease in extractive industries production. Source: Jordan News Agency