Methodological Note on the Industrial Turnover Index
Scope
The Industrial Turnover Index reflects the
monthly changes of turnover in the branches of mining and quarrying, manufacturing,
electricity supply, water supply and materials recovery, that is, sections B,
C, D and E of the statistical classification of economic activities NACE
Rev. 2 of the European Union. The index does not include sewerage, waste
collection, treatment and disposal and remediation activities, which are codes
37, 38.1, 38.2 and 39 of section E.
The aggregated index is broken down to
local market and export market index. The index is also compiled by main
industrial groupings: intermediate goods, energy, capital goods, durable
consumer goods and non-durable consumer goods.
Data collection
The collection of data is conducted by the
Statistical Service by telephone enquiries, fax or e-mail. The data collection
starts five to ten days after the end of the reference period and is normally
completed within two months. The mining and quarrying sector covers all major
quarrying products but not the support activities for the extraction of natural
gas. For manufacturing, all enterprises with turnover 1.700.000 Euros and over or with 20 or more employees are included in
the survey and a sample is selected from enterprises employing less than 20
persons. The Electricity Authority of Cyprus provides sales data, while data
are also collected from water distribution and desalination enterprises.
Compilation method and dissemination practices
The Industrial Turnover Index is using
2015 as base year, meaning that it shows the monthly changes in turnover in
relation with the monthly turnover average of the year 2015. In the base
year, the average of the turnover indices for the twelve months is 100,0. For
example, a monthly turnover index of 112,4 means that the turnover for the
specific month has increased by 12,4% in relation to the average monthly
turnover of 2015.
The aggregated Industrial Turnover Index
is a weighted average of the turnover indices of the various sub-sectors of
Industry, as determined in the statistical classification of economic
activities NACE Rev. 2. The weights used are derived from the total
sales of the enterprises in the base year (2015) and reflect the turnover of
each sub-sector in relation to the total turnover of the Industrial sector.
The compilation of the Industrial Turnover
Index follows the provisions of Council Regulation (EC) No 1165/98 concerning
short-term statistics. The Index is transmitted every month to the Statistical
Office of the European Union (Eurostat).
Contact:
Last Update: 02/11/2021