(Stock Photo)

The Index of Industrial Production (IIP) decreased by 4.0 per cent in June 2018, when compared with the previous month.

According to data produced by the Barbados Statistical Service, this was due to decreases in the indices for Mining and Quarrying of 17.4 per cent; Manufacturing of 2.1 per cent and Electricity, Gas and Water of 5.7 per cent.

The IIP for June 2018 decreased by 3.0 per cent when compared to June 2017. This was due to a decline in the indices for the Manufacturing sector of 3.9 per cent, Mining and Quarrying of 1.6 per cent and Electricity, Gas and Water of 1.6 per cent.

The output for the Mining and Quarrying Sector decreased by 1.6 per cent at the end of June 2018, when compared to the previous year. This was as a result of a decrease in the indices for Stone Quarrying of 6.6 per cent, despite an increase in Mining of 19.1 per cent.

The performance of the Manufacturing Sector decreased by 2.1 per cent in June 2018, when compared to May 2018.

Year-on-year output for June 2018 decreased by 3.9 per cent, which was reflected in decreases in the indices for Food of 4.3 per cent, Beverages and Tobacco of 43.3 per cent, Chemicals of 1.5 per cent, and Other Manufacturing of 7.7 per cent.

However, there were increases recorded for Non-metallic Mineral Products of 47.9 per cent, Wooden Furniture of 51.6 per cent and Electronic Components of 8.9 per cent.

The Electricity, Gas and Water sector decreased by 1.6 per cent, when compared with the previous year.

There was a decrease in the generation of Electricity of 3.1 per cent, while there were increases recorded for Natural Gas of 4.9 per cent and the consumption of Water of 19.7 per cent.

(Ministry of Economic Affairs and Investment)

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