{"id":235130,"date":"2024-10-19T12:21:38","date_gmt":"2024-10-19T12:21:38","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/19\/industry-records-8-2-growth-in-2nd-quarter\/"},"modified":"2024-10-19T12:21:38","modified_gmt":"2024-10-19T12:21:38","slug":"industry-records-8-2-growth-in-2nd-quarter","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/19\/industry-records-8-2-growth-in-2nd-quarter\/","title":{"rendered":"Industry Records 8.2% Growth In 2nd Quarter"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Prof Samuel Kobina Annim<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>Ghana has recorded a year-on-year growth in its production industry by 8.2 percent for the second quarter of 2024, the Ghana Statistical Service (GSS) has indicated.<\/p>\n<p>The GSS in its latest the Index of Industrial Production (IIP) release said on average, production in the industry sector grew by 8.2% in 2024 compared to the second quarter in 2023.<\/p>\n<p>The IIP measures changes over time in production volumes for the industry sector.<\/p>\n<p>According to the GSS, the manufacturing sub-sector grew by 8.3% in the second quarter of 2024 while mining and quarrying grew by 9.2% in the same period.<\/p>\n<p>Electricity and gas declined by 1.4% while water supply, sewage, and waste management grew by 1.2%.<\/p>\n<p>The Quarter-on-Quarter change for the second quarter of 2024 was 0.3%. This means that on average, production in the industry sector grew by 0.3% in the second quarter of 2024 as compared to the first quarter of 2024.<\/p>\n<p>The Year-on-Year change in IIP for the mining and quarrying sub-sector was 9.2%, meaning that on average, production in the mining and quarrying sub-sector grew by 9.2% in Q2 of 2024 compared to Q2 of 2023. The Q-Q change in the IIP for this sub-sector is 0.3% while the year-on-year change in the IIP for manufacturing was 8.3%. Thus, production levels in the manufacturing sub-sector on average grew by 8.3% in Q2 of 2024 compared to Q2 of 2023.<\/p>\n<p>Manufacture of other transport equipment recorded the highest growth (20.9%), while the production of coke and refined petroleum products declined by 1.8%.<\/p>\n<p>The Quarter-on-Quarter change in IIP is 0.7%, indicating that on average, production in the manufacturing sub-sector grew by 0.7% in Q2 compared to Q1 of 2024.<\/p>\n<p>The Year-on-Year change in the IIP for electricity and gas is -1.4%. Thus, production for this sub-sector declined by 1.4% in Q2 of 2024 compared to the Q2 of 2023.<\/p>\n<p>The Quarter-on-Quarter change in the IIP for this sector is -4.3% meaning that, on average, production in the electricity and gas sub-sector declined by 4.3% in Q2 compared to Q1 of 2024.<\/p>\n<p>The Year-on-Year change in the IIP for the water supply, sewage, and waste management is 1.2%. Thus, production in the water supply, sewage, and waste management sub-sector on average, grew by 1.2% in Q2 of 2024 as compared to Q2 of 2023.<\/p>\n<p><strong>A Business Desk Report<\/strong><\/p>\n<p><!-- CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prof Samuel Kobina Annim \u00a0 Ghana has recorded a year-on-year growth in its production industry by 8.2 percent for the second quarter of 2024, the Ghana Statistical Service (GSS) has indicated. The GSS in its latest the Index of Industrial Production (IIP) release said on average, production in the industry sector grew by 8.2% in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-235130","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Industry Records 8.2% Growth In 2nd Quarter - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/19\/industry-records-8-2-growth-in-2nd-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industry Records 8.2% Growth In 2nd Quarter - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Prof Samuel Kobina Annim \u00a0 Ghana has recorded a year-on-year growth in its production industry by 8.2 percent for the second quarter of 2024, the Ghana Statistical Service (GSS) has indicated. 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