Industrial production down 2.52% in first 10 months of 2023

Amman: The Industrial Production Quantities Index for January to October 2023 witnessed a 2.52 percent decrease, settling at 90.54 points in comparison to last year's 92.88 during the same period. As outlined in a monthly report released by the Department of Statistics on Tuesday, this decline in the cumulative index was primarily driven by a 3.35 percent reduction in manufacturing industries' production. Meanwhile, extractive industries observed a 2.55 percent increase, and electricity production rose by 3.02 percent. The report further elucidates that in October 2023, the index experienced a 2.13 percent drop, registering at 91.02 points as opposed to 93.00 in the corresponding month last year. This monthly downturn was predominantly influenced by a 3.32 percent decrease in manufacturing industries' production, countered by a 6.55 percent increase in extractive industries and a 4.15 percent rise in electricity production. Source: Jordan News Agency