Economy, Business And Markets

IPI Slides 2% in Spring

IPI Slides 2% in SpringIPI Slides 2% in Spring

The Industrial Production Index reached 85.9 in the first quarter of the current Iranian year (started March 21), showing a 2% decline compared to the similar period of last year.

The index is measured in comparison with a base arbitrary number. It sets the digit at 100 for the year ending March 20 as the base year, the Statistical Center of Iran reported on Monday.

IPI measures the real output of manufacturing, mining and utilities and their fluctuations.

According to SCI, the index was obtained via a research plan conducted every season on more than 1,800 industrial firms with more than 10 employees. The data was later analyzed with a Chain Method suggested by IMF’s Quarterly National Accounts Manual.

SCI also released the index for the mining sector, which was compiled through data collected seasonally from 320 active mines.

IPI for the mining sector reached 98.9 in the spring, showing a decrease of 0.6% compared to the similar period of last year.