(Stock Photo)
The Index of Industrial Production (IIP) increased by 5.1 per cent in May 2018, when compared with the previous month.
According to data produced by the Barbados Statistical Service, this was due to increases in the indices for Mining and Quarrying of 18.9 per cent; Manufacturing of 5.6 per cent and Electricity, Gas and Water of 3.2 per cent.
The IIP for May 2018 decreased by 5.0 per cent when compared to May 2017. This was due to a decline in the indices for the Manufacturing sector of 7.7 per cent; Mining and Quarrying of 3.1 per cent and Electricity, Gas and Water of 1.2 per cent.
The output for the Mining and Quarrying Sector decreased by 3.1 per cent at the end of May 2018 when compared to the previous year. This was as a result of a decrease in the indices for Stone Quarrying of 0.9 per cent and Mining of 10.2 per cent.
The performance of the Manufacturing Sector increased by 5.6 per cent in May 2018 when compared to April 2018.
Year-on-year output for May 2018 decreased by 7.7 per cent, which was reflected in decreases in the indices for Food of 11.3 per cent; Beverages and Tobacco of 9.0 per cent; Wearing Apparel of 0.5 per cent; Chemicals of 8.3 per cent; Non-metallic Mineral Products of 4.3 per cent and Other Manufacturing of 7.7 per cent.
However, there were increases recorded for Wooden Furniture of 21.1 per cent and Electronic Components of 3.2 per cent.
The Electricity, Gas and Water sector decreased by 1.2 per cent when compared with the previous year due to decreases in the generation of Electricity of 5.1 per cent; and the production of Natural Gas of 29.3 per cent, despite the increase of 17.9 per cent in the consumption of Water.
(ECONOMIC AFFAIRS DIVISION)