var ind_text = [{
    "code": "gdp",
    "text": "<b>Gross Domestic Product, abbreviated as GDP, is a basic measure of the overall size of a country’s economy. As an aggregate measure of production, GDP is equal to the sum of the gross value added of all resident institutional units engaged in production, plus any taxes on products and minus any subsidies on products.<\/b><hr><br><ul><li>Department of the Census & Statistics (DCS) is the authorized agency to compile GDP for Sri Lanka. GDP Estimates are disseminated by the National Accounts Division of the Department. Currently DCS follows the guidelines of System of National Accounts 2008 (SNA – 2008), which includes the latest set of boundaries, methodologies, concepts and recommendations. The GDP is compiled under the new base of year 2015.<\/li><li>In the history the base year was revised several times to 1958, 1963, 1975, 1990, 2002 and 2010. DCS decided to move the previous base year 2010 to 2015 with the objectives of enhancing the accuracy of constant price estimates and represent the real economic structure of Sri Lanka economy. Accordingly, from the first quarter of 2022, National Accounts Estimates will be released only under the base year 2015.<\/li><\/ul>",
    "comment": " "
}, {
    "code": "iip",
    "text": "<b>The Index of Industrial Production (IIP) is an abstract number, the magnitude of which represents the status of production in the industrial sector for a given period of time.<\/b> <hr> \nIts main purpose is to provide a measure of the short-term changes in the volume of industrial production from the manufacturing sector in the country. The IIP provides Information to gauge industrial performance and the forecast the future economic performance.\n\nIt can be used to identify the turning points in economic development at an early stage. The major advantage of the production index compared to other indicators is the combination of fast availability and detailed breakdown of activities.",
    "comment": " "
}, {
    "code": "ppi",
    "text": "<b> The Producer's Price Index (PPI) measures the average change over the time in prices received by domestic producers of goods and services.  <\/b>  <hr>\nThe introduction of the PPI in Sri Lanka provides a more complete picture of price movements and trends for making informed policy decisions. Department of Census and Statistics (DCS) has been releasing PPI quarterly from September, 2015 with time lag of 35 days. Giving due consideration for making the estimates available more frequently. Department of Census and Statistics (DCS) changed the references of the PPI to Q4, 2018 and disseminates the figures effective from the month of November 2021 with 40 days of time lag <hr>\nPPI is an important macro-economic indicator. It serves as an indicator of short-term inflationary trends and as a deflater of economic series. It is also used in productivity analysis, contract escalation, business analysis and current cost accounting etc. PPI covers the Agriculture, Manufacturing and Electricity and Water supply sectors of the economy.",
    "comment": " "
}, {
    "code": "ncpi",
    "text": "The NCPI has been released monthly from October 2015 with a time lag of 21 days. The NCPI has weights based on consumer spending in 2012\/13 Household Income and Expenditure Survey (HIES), and reflects new methods consistent with international best practices. Also, the DCS has re-based the Colombo Consumer Price Index (CCPI) with the base period of 2013 from January 2017, covering the urban areas of Colombo district. To reflect international recommendations and best practices, the index weights refer to each item's share in the total consumption expenditures of all the households in Sri Lanka. The provincial weights refer to the consumption expenditures within the province in proportion to the expenditures in the whole country.",
    "comment": " "
}, {
    "code": "ccpi",
    "text": "<b> A Consumer Price Index serves a number of purposes. It is an indicator to measure the changes in the general level of consumer prices and used as one of the key indicators of inflation. <\/b> <hr>\nConsumer Price Index is also used for socio-economic analysis and policy purposes, mainly in the determination of monetary and income policies. It is used in the analysis of the trends in wages and other monetary income, for indexation of salaries and wages etc. Consumer price index is also used to deflate the current values in National Accounts to obtain real values and therefore, a major determinant of the GDP deflater.\n",
    "comment": " "
}, {
    "code": "gdp2",
    "text": " ",
    "comment": "<b><u>National Accounts Estimates (base year 2015)<\/u><br><br> Annual GDP<\/b><br><ul><li> The Economy of Sri Lanka contracted by 2.3 percent in 2023 compared to the contraction of 7.3 percent in the economy reported in the year of 2022. <\/li><li> Compared GDP growth rates of major economic activities in 2023 with the year 2022; the overall Agricultural activities expanded by 2.6 percent while Industrial and Services activities contracted by 9.2 percent and 0.2 percent respectively in the year 2023.<\/li><li> The four major components of the economy; ‘Agriculture’, ‘Industry’, ‘Services’ and ‘Taxes less subsidies on products’ have contributed their share to the GDP at current prices by 8.3 percent, 25.6 percent, 59.9 percent and 6.2 percent respectively in the year of 2023.<\/li><\/ul>"

}, {
    "code": "gdp3",
    "text": " ",
    "comment": "National Accounts Estimates (base year 2015)"
}, {
    "code": "gdp4",
    "text": " ",
    "comment": "<b>2023 4th Quarter<\/b><br><ul><li> The GDP growth rate for the fourth quarter of 2023 has been estimated as 4.5 percent of positive growth rate when compared to the 12.4 percent of negative growth recorded in the fourth quarter of 2022. <\/li><li> The GDP growth rate for the fourth quarter of 2023 has been estimated as 4.5 percent of positive growth rate when compared to the 12.4 percent of negative growth recorded in the fourth quarter of 2022. <\/li><li>The Agricultural, Industrial and services activities expanded by 0.6 percent, 7.9 percent and 2.8 percent respectively in the third quarter of 2023.<\/li><\/ul>"
}, {
    "code": "iip2",
    "text": " ",
    "comment": "Index of Industrial Production (IIP) Base (2015 = 100) "
}, {
    "code": "iip3",
    "text": " ",
    "comment": "Index of Industrial Production (IIP) Base (2015 = 100) "
}, {
    "code": "ppi2",
    "text": " ",
    "comment": "Producer Price Index (PPI) Base period (2018 Q4 = 100)"
}, {
    "code": "ncpi2",
    "text": " ",
    "comment": "National Consumer Price Index (NCPI) Base (2021 = 100)"
}, {
    "code": "ncpi3",
    "text": " ",
    "comment": "National Consumer Price Index (NCPI) Base (2021 = 100)"
}, {
    "code": "ccpi2",
    "text": " ",
    "comment": "Colombo Consumer Price Index (CCPI) and Inflation Base (2021 = 100)"
}, {
    "code": "ccpi3",
    "text": " ",
    "comment": "Colombo Consumer Price Index (CCPI) and Inflation Base (2021 = 100)"
}];
// Comments Listing, eg.:  "comment": "[Use 'ccpi3' entry of the 'ind_txt' table to  populate this space]\n\n<b> Updates for each month will be placed here as text once inserted into the <i> ind_txt <\/i>  table of the database <\/b>\n<br>\nThis space will accomodate lists as well \n<ul> \n<li>  one <\/li>\n<li> two <\/li>\n<li> three <\/li>\n<\/ul>"