PCBS: Sharp decrease in the Industrial Production Index (IPI) in Palestine

RAMALLAH: According to a statement by Palestinian Central Bureau of Statistics (PCBS), a sharp decrease in the Industrial Production Index (IPI) in Palestine has been noted during in July 2024, compared with July 2023. The overall IPI in Palestine reached 82.90 during July 2024 with a sharp decrease of 24.11% compared to July 2023 (Base Year 2019 = 100). Compared with previous month, the overall IPI in Palestine reached 82.90 during July 2024 with a sharp increase of 10.95% compared to June 2024 (Base Year 2019 = 100). IPI for July 2024 sharply increased due to the sharp increase in the activities of Electricity, Gas, Steam and Air Conditioning Supply by 13.75%, which had a share of 7.38% of the total industry, and the activities of Manufacturing Industry by 11.75%, which had a share of 87.89% of the total industry. While, the activities of Mining and Quarrying decreased by 7.54%, which had a share of 2.89% of the total industry, and the activities of Water Supply, Sewerage, Waste Management and Remediatio n by 3.94%, which had a share of 1.84% of the total industry. Due to the Israeli aggression on Gaza strip in October,7 2023 for the 10th month, all working institutions in the industrial production weren't engaged in any production activity in Gaza strip for July 2024. Source: Palestine News and Information Agency – WAFA