In­dus­trial pro­duc­tion...

Daily Mirror (Sri Lanka) - - LIFE -

IIP re­ported for the month of April 2018 and 2017 were 97.7 and 98.3 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 the short-term changes of the in­dus­trial sec­tor

DCS com­piles num­ber of eco­nomic in­di­ca­tors in­clud­ing IIP. The IIP is a vi­tal mea­sure­ment of iden­ti­fy­ing the driv­ers of eco­nomic growth and eval­u­at­ing eco­nomic per­for­mance of the coun­try and it is based on vol­ume of pro­duc­tion of man­u­fac­tur­ing in­dus­tries.

The man­u­fac­tur­ing in­dus­tries – ‘Man­u­fac­ture of wood and prod­ucts of wood’, ‘Man­u­fac­ture of leather and re­lated prod­ucts’, and ‘Man­u­fac­ture of wear­ing ap­par­els’ – have shown re­mark­able in­creases of 27.6 per­cent, 11.2 per­cent and 6.3 per­cent re­spec­tively in their vol­ume of pro­duc­tion dur­ing the month of April 2018 com­pared to that of April 2017. The vol­ume of food prod­ucts in April 2018 has in­creased by 0.5 per­cent com­pared to the same month in pre­vi­ous year. How­ever, man­u­fac­tur­ing in­dus­tries’ vol­ume of ‘Man­u­fac­ture of other non-metal­lic min­eral prod­ucts’, ‘Man­u­fac­ture of rub­ber and plas­tic prod­ucts’ and ‘Man­u­fac­ture of fur­ni­ture’ have re­ported de­creases by 15.1 per­cent, 14 per­cent and 10.7 per­cent re­spec­tively dur­ing this pe­riod.

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