Journalists sensitised on industrial production index

The Ghana Statistical Service (GSS) conducted a workshop for journalists on the Index of Industrial Production (IIP), which measures short-term changes in industrial production volume.

Dr. Antony Krakah, Head of Business and Industrial Statistics at GSS, explained that IIP growth correlates with GDP growth and aids in formulating economic policies.

The IIP is computed from a fixed basket of products, using data from firms. Dr. Krakah emphasized that while the Producer Price Index (PPI) indicates inflation through price changes, IIP reflects production growth, making IIP a leading indicator for GDP growth.