The Index of Industrial Production (IIP) has increased by 2.3% in May 2017 compared to the same month in 2016, according to acommuniqué from the Department of Census and statics
Among the manufacturing industries, volume of products of ‘Fabricated Metal Products’ (21.6%), ‘Furniture’ (15.4%) and ‘Basic Metal Products’ (14.0%) have shown remarkable increases during the month of May 2017 compared to that of May 2016 while the volume of food products has increased by 0.1 %.
From the manufacturing industries, volume of ‘Chemical and Chemical Products’, ‘Tobacco Product’ and ‘Beverages’ reported decreases by 21.0%, 6.1% and 5.7% respectively during this period.
The Index of Industrial Production is an important indicator of economic performance and its main purpose is to provide a measure of the short-term changes in the volume of industrial production over a given period of time.
0 comments: