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New Data: India - IPI for manufacturing - SA
Wednesday, 14 Aug 2019 13:57 ET
By Richard Cross
August 2019 -- To supplement the reported industrial production index for manufacturing for India, Moody's Analytics has extended its history by 31 years, and created a seasonally adjusted version (one new monthly series, from 1981).

Motivation: Our national source for India, MOSPI, reports the industrial production index (IPI) dataset in not seasonally adjusted (NSA) terms (the fundamental). Under the current basket and index base year, the series are reported at April 2012. The IPI's scope is mining, electricity generation, and manufacturing, and we are interested in the latter.

Response: We have extended the history on the fundamental to April 1981 (31 years) using the corresponding series under three prior base years (the predecessors). Additionally, for international consistency and analytic utility, we have created a seasonally adjusted (SA) counterpart (the supplement).

Properties: The extended and supplemental series of carry a secondary source citation of "Moody's Analytics Calculated" and "Moody's Analytics Adjusted", respectively. Expect the supplement to be recalculated with each update to the fundamental.



  1. IPIMFUM.IIND    = FY 2012=100, reported from 2012m4
  2. IPIMF_05UM.IIND = FY 2005=100, 2005m4 to 2017m3
  3. IPIMF93UM.IIND  = FY 1994=100, 1994m4 to 2011m6
  4. IPIMF80UM.IIND  = FY 1981=100, 1981m4 to 1998m3
  5. IPIMFAM.IIND    = Moody's Analytics SA supplement


  1. Extend the active NSA series (A) backwards to 1981 using the predecessors (B), (C) and (D), using scalar multipliers ("linking factors") provided by MOSPI.
  2. Seasonally adjust (A) using the U.S. Census Bureau's X-13 ARIMA program to produce (E).

See also

Related ReleaseIndustrial Production
SourceMinistry of Statistics and Programme Implementation (MOSPI)
Release DateReference date
12 Feb 2020Dec 2019
12 Mar 2020Jan 2020
09 Apr 2020Feb 2020
12 May 2020Mar 2020
12 Jun 2020Apr 2020
10 Jul 2020May 2020
11 Aug 2020Jun 2020
11 Sep 2020Jul 2020
11 Oct 2020Aug 2020