Business Surveys Division
Role of Division
The Business Surveys Division is responsible for:
- Conducting Business Surveys
- Producing the Index of Industrial Production
- Producing the Retail Price Index
- Producing the Producers Price Index
- Conducting the Employment Earnings and Hours Survey
- Developing and Maintaining the Business Register
Tasks of Division
- Survey of Production and Sales - This survey seeks to obtain monthly information on the industrial sector regarding the level of production and the value of sales. Its main uses are as follows:
- Production quantity data, collected by the survey, is used in the compilation of a monthly index of industrial production.
- Aggregated production information on selected products is made available to data users and the general public on request.
- Monthly sales data, aggregated for the year, is used by the National Accounts section as a basis for making estimates for National Accounts.
- Nature of Business Survey – This is a short questionnaire which is used as required, to obtain information for updating the Business Register.
- Collect administrative data to update the Business Register.
- Survey of Employment Earnings and Hours - This is conducted quarterly among a sample of establishments, from all the major sectors.
- Producer Price Index - This is conducted monthly among the manufacturing industry.
One (1) Senior Statistician, who is assisted by two (2) Statisticians, manages the Division. (Presently only 1 post is filled). They organize the conduct of the various surveys, along with the processing of data collected and the dissemination of the results. Other staff are 6 statistical Assistant, 1 Senior Field officer, 7 Field Officers and 4 Clerical Officers.
Index of Industrial Production
Index of Industrial Production is a measure of output of the industrial sector of the economy. The industrial sector includes manufacturing, mining and Utilities. These Sectors are highly sensitive to interest rates and consumer demand.
Retailed Price Index
The Retail Price Index is a measure of changes in the general level of retail prices (inclusive of VAT) of a fixed ‘basket’ of goods and services, or a mix of consumer goods and services, purchased by the average household.
Producers Price Index
The Producers Price Index is a price index that measures the average change in price received by domestic producer for their output.