What are the uses of Index of Industrial Production?
Dear student,
Index of Industrial Production shows the change in output of industrial production in an economy for a given period of time.
The uses of IIP are:-
1. It helps to know the general level of industrial activities in an economy.
2. It indicates the economic performance various industries in an economy.
3. It helps in forecasting the future level of production.
4. It helps government and entrepreneur to formulate plans for future investment and production.
Regards
Index of Industrial Production shows the change in output of industrial production in an economy for a given period of time.
The uses of IIP are:-
1. It helps to know the general level of industrial activities in an economy.
2. It indicates the economic performance various industries in an economy.
3. It helps in forecasting the future level of production.
4. It helps government and entrepreneur to formulate plans for future investment and production.
Regards