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| IND104C - Monthly industrial production indices - adjusted by working days number, by industrial activities CANE Rev.1 - base year 2000 |
| Definition |
The industrial production index (IPI) measures the evolution of the results of industrial activities from one period to another, this being a Laspeyres-type volume index, calculated from the series of representative products at the level of each industrial activity and their weight (gross added value at the cost of factors in the base year). |
| Periodicity |
Monthly |
| Methodology |
Industrial production indices adjusted by working days number are monthly calculated using the regressive method, which is recommended by European regulations on short-term indicators (Council Regulation no. 1165/1998).
In order to adjust the series (level division, section, subsection, total industry CANE Rev. 1, main industrial groups) DEMETRA programs parcel (TRAMO/SEATS method) was used, which estimates the effect of working days number different from one month to another and calendar effect (Orthodox Easter, bissextile year and other national holidays) as well as identifies and corrects extreme values (occasional transition or permanent changes) and interpolates missing values.
Adjusted series with working days number was obtained eliminating from unadjusted series those effects by means of correction coefficients, set up according to regression model used (additive or multiplicative).
Regression models used for each series are set up at the beginning of each year, involving recalculation of adjusted series calculated in the previous year (recalculation because of changing the adopted models, number of regressors used and number of available observations).
Aggregated levels (section, subsection, total industry, main industrial groups) were adjusted by means of direct method (direct adjustment of aggregates), being used instead of indirect method (adjustment of lower levels, then aggregation of adjusted indices to obtain upper levels).
The industrial production indices are provisional and are revised based on the corrections retroactively done by the enterprises in the sample, concerning the data previously supplied.
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| Last update |
FEB 12, 2009 |
| Responsible person |
Baicoianu E. Violeta Roxana; e-mail: violeta.baicoianu@insse.ro; tel. 0213177775 |
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