(Stock Photo)
The Index of Industrial Production (IIP) decreased by 1.8 per cent in September 2016, when compared with the previous month.
According to data produced by the Barbados Statistical Service, the reduction was due to a decrease in Mining and Quarrying of 26.9 per cent and Manufacturing of 2.9 per cent. Meanwhile, there was an increase in Electricity, Gas and Water of 2.4 per cent.
The IIP for September last year, when compared to September 2015, recorded a decrease of 0.9 per cent. Decreases were recorded for Mining and Quarrying of 12.7 per cent and Manufacturing of 4.4 per cent. However, Electricity, Gas and Water recorded an increase of 6.1 per cent.
The decrease in Mining and Quarrying of 26.9 per cent in September 2016 compared to the previous month was due to the decrease in the indices for Mining of 14.2 per cent, and Stone and Quarrying of 29.4 per cent.
Production in the Electricity, Gas and Water sector increased by 6.1 per cent in September 2016 when compared to August 2016. Year-on-year output for September 2016 decreased by 4.4 per cent due to decreases recorded in the indices for Food by 7.8 per cent, Beverages and Tobacco of 4.1 per cent, Chemicals of 8.3 per cent and Non-metallic Minerals of 8.1 per cent.
Meanwhile, there were increases in Wearing Apparel of 15.1 per cent; Wooden Furniture of 2.5 per cent; Electronic Components of 11.6 per cent; and Other Manufacturing of 1.1 per cent.
SUMMARY OF INDEX CHANGES
| Sector | Sep. 16 | Aug. 16 | % change over Aug. 16 | Sep. 15 | % change over Sep. 15 |
|
All Industries
|
74.3 | 75.7 | -1.8 | 75.0 | -0.9 |
|
Mining & Quarrying
|
82.5
|
112.8 | -26.9 | 94.5 | -12.7 |
|
Manufacturing
|
54.4 | 56.0 | -2.9 | 56.9 | -4.4 |
|
Electricity, Gas & Water |
162.8 | 159.1 | 2.4 | 153.5
|
6.1 |