Accra: The Ghana Statistical Service (GSS) has published its latest quarterly report on the Index of Industrial Production (IIP), revealing an 8.2 percent increase in overall industrial performance for the second quarter of 2024 compared to the previous year, with significant contributions from the manufacturing, mining, and quarrying sub-sectors. According to Ghana News Agency, the detailed report by the GSS shows that the mining and quarrying sub-sector saw the highest growth rate, marking a 9.2 percent increase compared to the second quarter of the previous year. This sector also recorded a modest quarter-on-quarter growth of 0.3 percent, indicating sustained positive momentum in these industries. The manufacturing sub-sector followed closely, exhibiting an 8.3 percent growth year-on-year. Notably, the manufacture of other transport equipment surged by 20.9 percent, significantly bolstering the sector's performance. However, not all was positive in the manufacturing realm, as the production of coke and r efined petroleum products declined by 1.8 percent. In contrast, the water supply, sewage, and waste management sub-sector showed more modest growth. It recorded a 1.2 percent increase year-on-year and a 2.8 percent rise compared to the first quarter of 2024, reflecting gradual improvement in these essential services. Conversely, the electricity and gas sub-sector faced challenges, marking a 1.4 percent decline year-on-year, the lowest among all sub-sectors. This downturn was more pronounced on a quarterly basis, with a significant reduction of 4.3 percent from the first quarter of 2024, highlighting ongoing issues in energy production and distribution. This mixed performance across various industrial sub-sectors indicates underlying strengths and weaknesses within Ghana's industrial landscape, providing key insights for stakeholders to address in future planning and development strategies.
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