PCBS Report Shows Sharp Decrease in Industrial Production Index in Palestine During September 2024.

RAMALLAH: A report by the Palestinian Central Bureau of Statistics (PCBS) showed a sharp decrease in the Industrial Production Index (IPI) in Palestine during September 2024 compared with September 2023. The overall IPI in Palestine reached 81.03 during September 2024 with a decrease of 26.11% compared to September 2023 (Base Year 2019 = 100). According to Palestine News and Information Agency - WAFA, the IPI for September 2024 also declined in comparison to the previous month, with a decrease of 0.63% compared to August 2024. This decrease was attributed to several factors, including the reduction in activities within the Electricity, Gas, Steam, and Air Conditioning Supply sector, which fell by 9.16%. This sector comprises 7.38% of the total industry. Additionally, there was a notable decline of 5.67% in Mining and Quarrying activities, which make up 2.89% of the total industry. The Water Supply, Sewerage, Waste Management, and Remediation activities also saw a slight decrease of 0.20%, accounting for 1.8 4% of the total industry. In contrast, the Manufacturing Industry activities witnessed a slight increase of 0.75%, representing a significant portion of the total industry at 87.89%. Despite this increase, it was not enough to offset the overall decline in the IPI for September 2024.