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World Industrial Production Up 0.1 Percent in September 2024

Publication date:

Jan 08, 2025

World Industrial Production Up 0.1 Percent in September 2024

Datasets:

International Trade in Goods (by partner country) (IMTS)

December 11, 2024 – January 7, 2025

World Industrial Production, Country Data and Country Group Aggregates, September 2024
(Contributors: Anthony Silungwe and Lamya Kejji)

World Industrial Production (IP) increased 0.1 percent month-on-month in September, after rising by a similar magnitude in August. The September uptick was driven by strong growth in Emerging Market and Developing Economies (EMDEs), where IP increased 0.5 percent, contributing 0.3 percentage point to the increase in World IP. This was partially offset by a 0.6 percent decline in Advanced Economies (AEs), which contributed -0.2 percentage point to the overall change.

On a year-on-year basis, World IP growth accelerated to 2.0 percent in the three quarters of 2024 compared to the same period of 2023 (0.9 percent), driven by 3.3 percent growth in EMDEs. The AEs were a drag on World IP growth, decreasing -1.1 percent over the same period.

World IP continues to trend above the pre-COVID pandemic levels in 2024 led by EMDEs. On the contrary, the AEs dipped below the pre-pandemic levels beginning in August 2023 and have not yet recovered.

Within the EMDEs, Emerging and Developing Asia surged 0.7 percent in September after a decline of 0.4 percent in August. Emerging and Developing Europe increased 0.6 percent after declining for three consecutive months. Latin America and the Caribbean increased 0.2 percent in September, slowing down from 0.3 percent growth in August.

10a

Notes: 1. Seasonally adjusted World and Country Group Aggregate estimates are based on a sample of 123 economies that disseminate an Industrial Production (IP) index.
2. Country Group Aggregates are based on WEO classification.

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Notes: Regional annual inflation is calculated as a weighted average using officially disseminated indexes and purchasing power parity (PPP) expenditure data.
Reference period and data source: November 2024, IMF CPI Database
Coverage: 34 Sub-Saharan Africa and 6 North Africa economies

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