Eletropaulo launches index of São Paulo consumption

Brazilian economic think tank Fundação Getúlio Vargas (FGV) and power distribution company Eletropaulo have launched a new industrial activity index based on power consumption in São Paulo state, Eletropaulo and FGV said in a joint statement. The index, known as SPI, will use the total power load in Eletropaulo's concession area, which includes the city of São Paulo and 23 surrounding towns. "Because the region accounts for over 40% of state GDP, SPI will be a good indicator for the state's industrial activity," the statement said. Eletropaulo's total load in 2006 reached 35,650GWh. Power consumption in Eletropaulo's concession area will indicate industrial activity in the state of São Paulo, the statement said. SPI rose 0.3% in March. FGV carried out research for two years before launching the index. During that time the think tank said SPI had direct correlation to the monthly industrial activity index PIM, which is measured by the federal government's statistics bureau IBGE.