June’s Industrial Production Provisional Index

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The Index of Industrial Production (IIP) increased by 2.8 per cent in June, compared with the previous month.

This is according to data produced by the Barbados Statistical Service, which indicated that growth in the index was due to an increase in Mining and Quarrying by 7.3 per cent and Manufacturing by 6.7 per cent.

A decrease of 3.6 per cent was recorded for the consumption of Electricity, Gas and Water.??The IIP for June 2015 recorded a decrease of 1.5 per cent when compared with the previous year.

A decline was reflected in the index for Manufacturing by 3.4 per cent and Electricity, Gas and Water by 1.0 per cent. Meanwhile, an increase was recorded for Mining and Quarrying by 37.8 percent.

Output for the Mining and Quarrying Sector grew by 37.8 per cent at the end of June, compared with the previous year, due to increases in the index for Mining by 9.7 per cent and Stone Quarrying by 49.0 per cent.

Production in the Electricity, Gas and Water Sector decreased by 1.0 per cent, when compared with the previous year, due to a decline in Water by 5.7 per cent. Increases were recorded for the generation of Electricity by 0.2 per cent and Natural Gas by 4.2 per cent.

Year-on-year output for June in the Manufacturing Sector decreased by 3.4 per cent due to declines in the indices for Food by 1.7 per cent; Beverages and Tobacco by 1.9 per cent; Non-Metallic Minerals by 12.2 per cent and Other Manufacturing by 9.3 per cent.

Meanwhile, year-on-year increases were recorded in the index for Wearing Apparel by 26.3 per cent; Wooden Furniture by 5.0 per cent; Chemicals by 11.8 per cent and Electronic Components by 8.6 per cent.

Author: Division of Economic Affairs/BGIS
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