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The index of industrial production,
energy and mining excluding petroleum refining (IPIEM) continues its upward trend, according to figures published recently by the High Commission for Planning (HCP), with a 1.7 percent increase in the second quarter of 2017 compared to the same period of 2016.
According to analysts at the Office of the High Commissioner, this growth mainly due to the increase in the production index of the food
industries by 8.1 percent, the chemical industries by 5.4 percent, clothing and furs by 7.8 percent, the automotive industry by 5.1 percent, transport and equipment by 7.2 percent and publishing products by 5.9 percent.
However, non-metallic mineral products took a strong hit with a 11.3 decrease. According the HCP, the
cement production index also witnessed a significant decrease of 13.7 percent, followed by losses in the electrical machinery and equipment of 7.2 percent, metal products with 10.7 percent, the paper and cardboard industry with 4.7 percent and leather, travel goods and footwear with 3.6 percent.
The same source also reported an increase in the index of mining production which increased by 33 percent. This development is the result of an increase in the index of production of miscellaneous mining products and metallic minerals by 34.7 and 1 percent, respectively.
The HCP analysts also noted an increase in the index of electric power generation by 5.3 percent during the second quarter of 2017.
As of the results of the first quarter of 2017, IPIEM excluding petroleum refining recorded a slightly higher increase of 2.3 percent compared to the same period of 2016. For the HCP, this development “results in particular from the increase in the production index of the chemical industries of 10.6 percent, that of clothing and fur articles of 7.9 percent, the automotive industry with 12.3 percent, the food industry with 0.6 percent, and transport and equipment by 12.4 percent.
Three months earlier (fourth quarter of 2016), the HCP reported an increase in IPIEM excluding petroleum refining by 1.8 percent compared to the same period in 2015.
