Among the 10 industries recorded negative growths in volume of production of manufacturing industries were manufacture of electrical equipment, manufacture of paper and paper products, manufacture furniture have reported negative growth rates of 26.9%, 24.4% and 19.1% respectively.
The IIP is an index which details out the growth of sub sectors of the industry sector in a given period of time. It reveals short term changes of volume of production of the industrial sector. The Department of Census and Statistics compiles number of economic indicators including IIP. Government as well as industries use these indicators to understand the trends and patterns in Sri Lankan economy, identify the drivers of economic growth, evaluate economic performance and for the formulation and assessment of economic policies.