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The Index of Industrial Production for the month of March 2012 was 81.9. This indicates that output levels increased by 12.9 points or 18.7 per cent compared with February 2012, but fell by 3.6 points or 4.2 per cent when compared with March 2011. The Manufacturing index, which is the main component of the Production Index, increased by 13.4 points or 25.5 per cent compared with the previous month, but declined by 3.8 points or 5.5 per cent compared with March 2011.

The Mining and Quarrying index rose by 0.9 of a point or 1.0 per cent compared with February 2012, but decreased by 17.7 points or 16.9 per cent when compared with March 2011. The Electricity, Gas and Water index increased by 12.4 points or 8.8 per cent compared with the previous month; the yearly comparison showed that this index fell by 0.4 points or 0.2 per cent.

Manufacturing Index

Increases were recorded for the Non-Metallic Mineral Products index and the Wearing Apparel index by 28.7 per cent and 16.9 per cent respectively. Decreases were recorded for the following indices: Electronic Components (59.7 per cent, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, NULL, NULL, 0); Wooden Furniture (51.0 per cent, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, ‘, NULL, NULL, 0); Chemicals (18.8 per cent) and Food (12.0 per cent). Other Manufacturing index and Beverages and Tobacco also declined by 6.0 per cent and 1.6 per cent.

Mining and Quarrying

The Mining index of crude oil rose by 8.8 points or 15.9 per cent compared with the previous month and declined by 2.8 points or 4.1 per cent compared with March 2011. The Quarrying sub-division decreased by 4.8 points or 4.5 per cent compared with that of the previous month and declined by 28.5 points or 21.6 per cent below that of March 2011.

Electricity, Gas and Water

Net Generation of electricity increased by 15.4 points or 9.8 per cent over the previous month and decreased by 5.6 points or 3.2 per cent compared to March 2011. The Natural Gas index rose by 0.6 of a point or 1.5 per cent over February 2012 and increased by 0.4 of a point or 1.0 compared to March 2011. Net generation of water rose by 4.9 points or 4.7 per cent over the previous month and increased by 14.5 points or 15.3 percent over 2011.

Author: Economic Affairs Division, Ministry of Finance and Economic Affa

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