The volume of industrial production in August 2024 increased by 1.2% compared to the same period in 2023, according to the latest Index of Industrial Production report released by the Department of Census and Statistics.
On a month-to-month basis, the production volume showed a modest increase of 0.1%. The manufacturing sector index rose to 91.3% in August 2024, up from 90.2% in August 2023. Significant contributors to this growth include the manufacture of textiles, wearing apparel, food products, and paper products.
However, the production of beverages and tobacco products experienced a decline compared to August 2023.
Additionally, the Official Poverty Line at the national level for August 2024 recorded a slight decrease to Rs. 16,152, down from Rs. 16,373 in July 2024. This reduction was attributed to a lower National Consumer Price Index (NCPI) for August 2024.
