What Is Industrial Production?
The industrial production index is an index of physical quantities of industrial products compiled using weighted arithmetic averages. It is an indicator commonly used in Western countries to calculate and reflect the speed of industrial development, and it is also the first indicator of prosperity analysis. The industrial production index is a relative indicator that measures the real output of manufacturing, mining, and public utilities. The basis for measurement is quantity, not amount. The index reflects the economic situation and development trend of the industrial economy in a certain period. As with other relative indicators, when using the industrial production index, we must pay attention to the comparability of the data and must use it in combination with the absolute indicator to be able to explain the problem objectively and comprehensively.
Industrial production
Right!
- According to above
- Calculation
- 1. Look at the difference between the development rate of industrial production index and industrial gross output value:
- The calculation principles are different. The calculation principle of the industrial production index is the product method, which is the factory method. The industrial production index is calculated from the selection of important representative products, and is calculated based on the weighted average of the individual individual indexes; the latter is calculated using all industrial products, using the total output value of each industrial enterprise and the Base period output value.
- 2. The industrial production index has its unique advantages:
- In line with international practice, can be in line with international standards, can be directly used for comparison of international statistical data;
- Can well meet the timeliness requirements;
- It helps to improve the anti-interference ability of data and the data quality of industrial development speed;
- It can provide the speed of development by industry and avoid the industry crossover phenomenon;
- It can meet the needs of the new national economic accounting system.
- 3. It should be pointed out that the industrial production index is a relative indicator. It only reflects the economic situation and development trend of the short-term economy. When researching the issue of speed and efficiency, it cannot provide absolute quantitative indicators. At the same time, it cannot provide the development speed grouped by corporate logo. These data still need to be obtained through other channels.