Industrial production index / IPI
Dernière mise à jour le : 13/03/2018
Présentation de l'opération
Organisme producteur :
Insee. Direction des statistiques d'entreprises (DSE)
Type d'opération :
Industrial production indices calculation answer to a national and a European imperative. Industrial production indices fall under the European regulation on short-terms statistics – the Council Regulation ‘’STS’’ No 1165/98 of 19 May 1998, modified by subsequent amendments. Industrial production indices are used to measure the monthly changes of industrial and construction activities in France. As such, they are a primary information to monitor the business cycle in France and to identify turning points at an early stage, in parallel or along with other macroeconomic indicators such as employment statistics, prices indices, the Services Production Index or foreign trade statistics. Otherwise, industrial production indices are one of the sources used to elaborate French quarterly accounts – for example the GDP flash estimate.
Champ de l'opération
Champ géographique :
France including overseas departments
Champ(s) statistique(s) couvert(s) :
Industrial production indices – IPI – are calculated for the industry and the construction sectors. They cover the sections B, C, D and E of the NAF rev. 2 for industry and the sector F for construction.
Unité statistique enquêtée :
Legal unit by kind of activity
Périodicité de l'opération :
Période et mode de collecte :
Industrial production indices are computed by INSEE and are based on a business survey, which is carried out by INSEE, the statistical service of the Ministry of Agriculture, the statistical service of the Ministry of Ecological Transition and other professional organizations. Monitored products are located at all levels of the manufacturing process in order to provide a good representation of the whole industrial activity.
From now on, Industrial production indices have reference year 2015, which means that they have for average 100 in 2015. Previously, indices had reference year 2010. The 2015 rebasing implements an important innovation, with the introduction of annually chained indices instead of fixed-weights indices. Thus, until now, aggregation of elementary indices was done on the basis of constant weights representing the reference year – i.e. 2010 previously. This method could lead to increasing distortions for the most distant periods from the base year. In order to reduce those distortions, the UN and Eurostat recommend to update weights annually. It is then necessary to link the indices from one year to the next, hence the final name. Three commonly used methods for chain-linking were studied in the context of the Eurostat "Chain-linking" task force. INSEE chose the annual overlap method for calculating the IPI. Other indices, such as "production price indices", already used this type of annual chaining. Coherence between the IPI and structural statistics – including national accounts – is strengthened, although gaps remain due to differences in the data sources and calculation methods. The estimation of annual weights is based primarily on the gross value added at basic prices per branch calculated by the annual national accounts. By definition, value added at basic prices excludes taxes on products but includes subsidies on products. It does not include transport services. At the lower levels of the industry classification, weights are also based on INSEE’s Esane device and the Annual Production Survey in the industry. Finally, from 2019, the IPI industrial branches will be reviewed at the rate of one fifth of the series each year. This annual update will make it possible to improve the relevance of the IPI with regards to the evolution of technologies and production processes, by including emerging products or, on the contrary, removing old products. This reviewing process of the products surveyed for the IPI was until now done every five years; the last update took place in 2013.
Autres spécifications :
Responses from firms questioned in branch surveys are not always fully available when the index is first published. An estimation is then made, pending the arrival and integration of these late responses in the following months. This leads to revise raw data and SWDA indices. Otherwise, INSEE conducts annual surveys that provide more detailed and complementary results for the year preceding the last period covered by the IPI. Data of both sources are then confronted, which can result in revisions of the IPI indices. At last, models used to correct seasonal and calendar effects are updated annually. Between two model updates, SWDA coefficients are updated monthly in order to take into account the most recent data – this includes raw data rectifications related to the previous months. At each publication, all SWDA indices disseminated on the INSEE website are updated from 1990.