Industrial Production Index Down by 3.1 Percent in April

Doha: The National Planning Council has issued a press release in industrial production index for April 2024, calculated using 2018 as a base year, showing a decrease by 3.1 percent compared to the previous month (March 2024).

This indicator reflects…


Doha: The National Planning Council has issued a press release in industrial production index for April 2024, calculated using 2018 as a base year, showing a decrease by 3.1 percent compared to the previous month (March 2024).

This indicator reflects the growth of details of the growth of the various industrial economic sectors that make up it, with a different relative weight they have, such “Mining and quarrying” 82.46 percent, “Manufacturing” 15.85 percent, “Electricity, gas, steam, and air conditioning supply” 1.16 percent, and “Water supply” 0.53 percent.

It is also a short-term quantitative index that measures the changes in the volume of productions of a selected basket of industrial products over a given period with respect to that in a chosen period called the base period, it studies and analysis the economic level of the state, and the growth of various industrial sectors in economy index details.

The Industrial Production index (IPI), April 2024 reached 100.1 point, decreased by 3.1 percent comp
ared to the previous month (April 2024), and decreased by 5.9 percent, when compared to the corresponding month in 2023.

The index of the “Mining” sector showed a decrease by 3.3 percent compared to the previous month (March 2024), due to the decrease in the quantities of “crude oil petroleum and natural gas” with the same percentage, and “Other mining and quarrying” decreased by 5.7 percent.

When compared to the corresponding month of the previous year (April 2023), the IPI of Mining decreased by 6.1 percent, due to the decrease in the quantities of “crude oil petroleum and natural gas” with the same percentage, and “Other mining and quarrying” decreased by 5.5 percent. Graphs (2) shows the trends of monthly IPI in the mining sector during April 2023 until April 2024.

The index of “Manufacturing” sector showed a decrease by 2.5 percent compared to the previous month (March 2024), The groups showed a decrease include: “Manufacture of Cement and other non-metallic mineral products” by 7.4 percent, followed
by “Manufacture of basic metals” by 6.4 percent, “Printing and reproduction of recorded media” by 5.6 percent, “Manufacture of food products” by 3.0 percent, and “Manufacture of chemicals and chemical products “by 1.8 percent. however, an increase was recorded in “Manufacture of beverages” by 4.2 percent, “Manufacture of refined petroleum products” by 1.2 percent, and “Manufacture of rubber and plastics products” by 0.3 percent.

On the other hand, in terms of annual change, comparing to April 2023, a decrease of 5.0 percent was recorded, due to the decrease in “Manufacture of basic metals” by 22.5 percent, followed by ”Printing and reproduction of recorded media.” By 9.1 percent, “Manufacture of Cement and other non-metallic mineral products” by 4.2 percent, “Manufacture of refined petroleum products” by 2.0 percent, “Manufacture of chemicals and chemical products” by 1.6 percent, “Manufacture of food products” by 1.3 percent, and “Manufacture of rubber and plastics products” by 0.3 percent, However, an
increase was recorded in “Manufacture of beverages” by 1.2 percent.

The index of the “Electricity, gas, supply” sector showed a decrease of 2.8 percent was noticed in the production of “Electricity” between April 2024 and the previous month (March 2024). Compared with the corresponding month (April 2023), a decrease of 11.2 percent was recorded.

Meanwhile the “Water Supply” index showed a decrease of 2.3 percent was noticed in the production of ”Water’ between April 2024 and the previous month (March 2024). Compared with the corresponding month (April 2023), a decrease of 1.1 percent was recorded.

Source: Qatar News Agency

China Reducing Energy Consumption Intensity Exponentially

The People’s Republic of China’s National Development and Reform Commission (NDRC) announced that China has become at the forefront of countries with the fastest energy intensity reduction.

In its statement cited by Xinhua News Agency, the NDRC added…


The People’s Republic of China’s National Development and Reform Commission (NDRC) announced that China has become at the forefront of countries with the fastest energy intensity reduction.

In its statement cited by Xinhua News Agency, the NDRC added that China’s ability to safeguard its energy supply has increased significantly, and its international energy cooperation has been strengthened on all fronts, thanks to its new energy security strategy.

The statement continued by saying that China has achieved remarkable results in reforming its energy consumption patterns in recent years, with total energy consumption effectively controlled and energy consumption structure significantly improved.

According to the NDRC, China’s energy intensity, the amount of energy consumed per unit of GDP, decreased 26.4 percent from 2013 to 2023.

Source: Qatar News Agency

US Stock Market Closes Mixed

New York, The main stock indices on Wall Street closed with mixed results at the end of the trading session.

The Dow Jones Industrial Average finished the session down by 57.94 points, or 0.1 percent, to settle at 38,589.10 points.

The broader SandP…


New York, The main stock indices on Wall Street closed with mixed results at the end of the trading session.

The Dow Jones Industrial Average finished the session down by 57.94 points, or 0.1 percent, to settle at 38,589.10 points.

The broader SandP 500 index lost 2.14 points, or less than 0.1 percent, ending at 5,431.60 points.

In contrast, the Nasdaq Composite Index, which includes technology stocks, gained 21.32 points, or 0.1 percent, closing at 17,688.88 points.

Source: Qatar News Agency

Algeria Announces Strategic Agreement with Italy for Cereal Production in Algeria

Algiers, The Algerian Presidency announced today the signing of a ‘strategic’ Algerian-Italian partnership agreement to build a mega-project in the province of Timimoun for the production of cereals and vegetables in the agri-food industry.

In a stat…


Algiers, The Algerian Presidency announced today the signing of a ‘strategic’ Algerian-Italian partnership agreement to build a mega-project in the province of Timimoun for the production of cereals and vegetables in the agri-food industry.

In a statement, the Algerian Presidency said that the project will run from 2024 to 2028, and involve the production of cereals and pulses in the agri-food industry.

“It also aims to strengthen the excellent historic bilateral relations between Algeria and Italy at all levels, and to speed up the national economic process to achieve self-sufficiency,” added the statement.

Source: Qatar News Agency

Consumer Price Index Increases by 0.44 Percent in May

Doha: The National Planning Council has released the Consumer Price Index (CPI) for the month of May 2024. The CPI of May 2024 reached 107.59 points showing an increase of 0.44 percent when compared to CPI of April 2024. Compared to CPI of May 2023, Y…


Doha: The National Planning Council has released the Consumer Price Index (CPI) for the month of May 2024. The CPI of May 2024 reached 107.59 points showing an increase of 0.44 percent when compared to CPI of April 2024. Compared to CPI of May 2023, Y-o-Y basis, an increase of 0.93 percent has been recorded in the general index (CPI) of this month.

When comparing the main components of CPI for the month of May 2024, with the previous month April 2024 (Monthly change), it is found that, there were five groups increased, four groups decreased, and three groups remained unchanged.

The groups showed increased as a follow: “Recreation and Culture” by 3.19 percent, “Food and Beverages” by 1.48 percent, “Miscellaneous Goods and Services” by 0.28 percent, “Furniture and Household Equipment” by 0.16 percent, and “Transport” by 0.12 percent. A decrease has been recorded in “Communication” by 1.03 percent, “Housing, Water, Electricity and other Fuel” by 0.91 percent, “Clothing and Footwear” by 0.20 percent, slightly d
ecrease almost stable in “Education” by 0.4 percent. “Tobacco”, “Health”, and “Restaurants and Hotels” remained flat at the last month’s price level.

A comparison of the CPI, May 2024 with the CPI, May 2023 (Annual Change), an increase has been recorded in the general index (CPI) by 0.93 percent. This Y-o-Y price increase is primary due to the prices rising in five groups namely: “Recreation and Culture” by 11.97 percent, “Food and Beverages” by 4.62 percent, “Education” by 3.37 percent, “Miscellaneous Goods and Services” by 2.49 percent, and “Transport” by 0.82 percent. A decrease has been shown in price levels in “Communication” by 12.73 percent, “Housing, Water, Electricity and other Fuel” by 3.39 percent, “Restaurants and Hotels” by 1.86 percent, “Health” by 1.77 percent, “Furniture and Household Equipment” by 1.75 percent, “and “Clothing and Footwear” by 0.25 percent. No changes recorded on “Tobacco”.

The CPI of May 2024 excluding “Housing, Water, Electricity and other Fuel” group stands at 111.02 poin
ts, recorded an increase of 0.76 percent when compared to the index of April 2024. Compared with its counterpart in 2023, the CPI of May index increased by 1.98 percent.

Source: Qatar News Agency

IEA: Global Oil Demand Will Peak by 2029

The International Energy Agency (IEA) said Wednesday that global oil demand is expected to reach its highest point by 2029 and start to decrease the following year. Additionally, the IEA projects that oil supply capacity will significantly exceed dema…


The International Energy Agency (IEA) said Wednesday that global oil demand is expected to reach its highest point by 2029 and start to decrease the following year. Additionally, the IEA projects that oil supply capacity will significantly exceed demand by the end of this decade.

The IEAs June 2024 Oil Market Report published Wednesday forecasts that global oil demand, which includes biofuels, averaged just over 102 million barrels per day (mbbl/d) in 2023 and will level off near 106mbbl/d towards the end of this decade.

Global oil production capacity is expected to increase in the coming years, with the US leading the surge. This increase is anticipated to surpass the growth in demand until 2030. The report predicts that by 2030, total supply capacity will reach nearly 114mbbl/d, or 8mbbl/d more than the projected global demand.

Source: Qatar News Agency