EghtesadOnline: After experiencing an 8% decline in the Iranian year ending March 2019, the Industrial Production Index for large manufacturing units in Iran registered a 1.9% growth in the fiscal 2019-20, the Central Bank of Iran’s data showed.
The IPI decreased by 11.6% in the quarter ending Dec. 21, 2018, 17.1% in the quarter ending March 20, 2019, 4.1% in the quarter ending June 21, 2019, and 4.2% in the quarter ending Sept. 22, 2019. However, the index recorded a 6.3% growth in the quarter ending Dec. 21, 2019, and 10.5% in the quarter ending March 19, 2020, Fars News Agency reported.
IPI is an economic indicator measuring real output in various industries, with industrial production and capacity levels expressed as an index level relative to a base year, which the CBI considers to be the fiscal 2015-16, standing at 100.
In other words, the index does not express absolute production volumes or values, but the percentage change in production relative to that year.
The central bank calculates IPI using data of large units with 100 workers or more operating in 24 industries.