Industrial production rose 6.1% in Cape Verde in the third quarter

Industrial production increased 6.1% in the first quarter of this year, compared to the same period last year, according to data released today by the National Institute of Statistics.
Industrial production increased by 6.1% in the first quarter of this year, compared to the same period last year, according to data released today by the National Statistics Institute (INE).
According to the short-term industry indicators, between July and September industrial production was down 12.5 percentage points from the previous quarter, and on a quarterly basis was down 3.2%.
In the period under review, the sections of manufacturing and electricity, gas, steam, hot and cold water and cold air industry showed more relevant contributions to the variation of the aggregate index, concluded the INE, indicating that the remaining sections have a negative contribution to the variation of the index.
As for industrial producer prices, they increased 20.8% in the third quarter of 2022 relative to the same quarter of the previous year, and were influenced by the grouping of electricity, gas, steam, hot and cold water and cold air and manufacturing industries.
In turn, the turnover index increased 29.7% over the previous quarter, still according to the Cape Verdean institute.
“In the extractive industries, there was a negative turnover variation of 53.9%. The turnover in the manufacturing industries section recorded a variation of 8.2% and the sections of electricity, gas, steam, hot and cold water and cold air and water treatment and distribution recorded year-on-year changes of 70.5% and 11.7%, respectively,” INE described.
In the third quarter of this year, the respective year-on-year changes in the indices of employment and hours worked in industry were – 0.4% and – 0.1%.
In turn, compensation increased by 3.6%. In this period, the extractive and manufacturing industries recorded changes in the compensation index of -13.5% and 1.4%. The sections of electricity, gas, steam, hot and cold water and cold air and capture, treatment and distribution of water, recorded changes of 6% and 7.6% respectively,” reads the note from INE.

About Geraldine Boechat 2185 Articles
Senior Editor for Medafrica Times and former journalist for Swiss National Television. former NGO team leader in Burundi and Somalia