The volume of industrial production has increased by 3.7% in the month of October according to the Director-General of the Department of Census and Statistics, A.J Satharasinghe. According to Satharasinghe, the increase is when compared to the same month in 2016. The Index of Industrial Productions (IPP) for the months of October 2017 and 2016 were 108.6 and 104.7 respectively.
IIP conveys the status of production in the industrial sector of an economy in a given period of time in comparison with a fixed reference point in the past. It reveals short-term changes in the industrial sector.
The manufacturing industries; ‘Fabricated Metal Products’. ‘Machinery and Equipment’ and ‘Basic metal products’ have shown remarkable increases of 26.2%, 14.2% and 8.7% respectively compared to October 2016.
Pic Source: innvativefab.com
Leave your comments
Login to post a comment
Post comment as a guest