Industrial production reaches highest in the last six months
In November, along with the overall performance of industrial production, the performance of manufacturing was also better. There was an increase of 5.8 percent in manufacturing and nine percent in capital goods. The increase in manufacturing and capital goods is a good sign for the economy because increasing manufacturing creates jobs. The increase in capital goods means that preparations are being made to expand industrial production in the coming time.
In the industrial production of the month of November last, there was an increase of 5.2 percent as compared to November of the year 2023, which is the highest in the last six months. Experts say that this increase in industrial production was registered due to the festive season. In October last year, there was an increase of 3.7 percent in industrial production.
Apart from this, the performance of manufacturing was also good in November due to the overall good performance of industrial production. In manufacturing, there was an increase of 5.8 percent in November and nine percent in capital goods. The increase in manufacturing and capital goods is a good indication of the economy, as with an increase in manufacturing, there are also employment opportunities, while an increase in capital goods means preparations for expansion in industrial production during the upcoming period.
Manufacturing was up 4.4 percent last October. Infrastructure and construction were up 10 percent last November, and the increase in this sector also helps in the creation of jobs.
According to the data of the Department of Industry, the performance of mining production was not good last November and there was a growth of only 1.9 percent in this sector. There was a 4.4 percent increase in electricity production, 2.7 percent in primary goods, 5 percent in intermediate goods, 13.1 percent in consumer durables, and 0.6 percent in consumer non-durables.
