According to the latest data released by the Ministry of Statistics, the IIP, or Industrial Production Index has increased 5 percent year on year this April compared with 4.6 percent prevalent in the April of 2023.
By sector it has broken down in mining 6.7%, in manufacturing 3.9% and in electricity 10.2% compared to the same month of the previous year. The subsectors of manufacture whose activity increased the most during April 2024 were: 'Elaboration of basic metals' 8.1 percent; 'Manufacture of coke and refined petroleum products' 4.9 percent; and 'Manufacture of motor vehicles, trailers and semi-trailers' 11.4 percent.
Consumer durables like refrigerators, washing machines, and TVs were up by 9.8%," shows that the commodities needed by the consumers are seeing increasing demand in a growing economy. On the same front, construction goods production was up by 8%, which is an indication that more is being invested in infrastructure.
It is reflected by the 3.1% rise in the production of capital goods, which is crucial for investments in the economy and implies that real investments are going on in this productive capacity of the economy.
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