The Saudi industrial production index (IPI) increased in May by 24% compared to the same period last year, according to General Authority for Statistics (Gastat).

The IPI continued to show positive growth rates due to the high production in the three sub-sectors mining and quarrying, manufacturing, and electricity and gas supplies.

The mining and quarrying grew by 23.3% in May compared to last year. The manufacturing activity also rose 28.8%, while the electricity and gas supplies increased by 3%, stated Gastat in its report.

Compared to April, the overall IPI increased by 1.2%. Mining and quarrying showed a month-on-month growth rate of 0.9%.

According to Gastat, the manufacturing sector increased by 0.2%, electricity and gas supplies surged by 24.9%. The impact of growth in the electricity and gas supplies index on the IPI was limited due to its small weight in the index, it added.

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