IIP data News

The worst performance was witnessed by the capital goods sector, which recorded a contraction of 9.6% during the month under review, compared to a 4.4% decline a year ago A contraction of 3.7% was registered in the mining sector in January, against a positive growth of 4.4% in the year-ago period

The Quick Estimates for Oct 2020, the first revision for Sept 2020, and the final revision for July 2020 have been compiled at weighted response rates of 90%, 94% and 95% respectively The industrial production witnessed a 5.2% growth in February this year Thereafter, it entered the negative territory in March and remained in the contraction zone till August

The inflation in the vegetable segment was 20.73% in Sept, significantly up from 11.41% in the preceding month. Similarly, the rate of price rise in the fruits was high over August Data showed that the rate of price rise in the protein-rich eggs was 15.47% in Sept compared to 10.11% in August The retail inflation was also high month-on-month in 'meat and fish', and 'pulses and products', but it was lower in 'cereals and products' and 'milk and products' .

The Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP As per Use-based classification, the indices stand at 114.1 for Primary Goods, 70.9 for Capital Goods, 122.9 for Intermediate Goods and 125.2 for Infrastructure/ Construction Goods for the month of July 2020 Further, the indices for Consumer durables and Consumer non-durables stand at 99.5 and 156.4 respectively for the month of July 2020

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of March 2020 stand at 132.7, 114.8 and 149.2 respectively. 

The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of January 2020 stands at 137.1.

Inflation rate in cereals and products stood at 5.25 per cent in January against 4.36 per cent month ago, while vegetables inflation for January stood at 50.19 per cent, against a 60.5 per cent in December 2019.

Index of Industrial Production (IIP) or factory output for the month of October has contracted by 3.4 percent as compared to a growth of 8.4 percent in the same month last year, according to the Index of Industrial Production (IIP) data released by the Central Statistics Office.

Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of September 2019 stands at 123.3, which is 4.3 per cent lower as compared to the level in the month of September 2018, said a government statement. The cumulative growth for the period April-September 2019 over the corresponding period of the previous year stands at 1.3 percent.

According to the figure released by the government, the index of eight core industries, which comprises output of coal, crude oil, cement and electricity among others, recorded a decline of 5.2 per cent in September year-on-year.

During the April-October period, industrial output grew 5.6 percent as compared to 2.5 percent in the same period of the previous fiscal.

CII Director General Chandrajit Banerjee said IIP data augurs well for the narrative of economic strengthening, going forward.

On a year-on-year basis, the manufacturing sector expanded by 10.2 percent

The broader Nifty too settled below the key 10,300-level, down 82.10 points, or 0.80 percent, at 10,240.15.

The 30-share barometer settled higher by 250.47 points, or 0.78 percent, to 32,393.26 after moving in range of 32,508.59 and 32,247.74.

The 50-issue NSE Nifty ended 51.85 points, or 0.54 percent, at 9,616.40 after cracking below 9,600-mark to touch a low of 9,598.50.

The Sensex on Monday closed at new peak of 30,322.12 by gaining 133.97 points While the Nifty settled at record high of 9,445.40 taking comfort from positive inflation numbers, with the hope that earnings momentum by blue-chips will keep up foreign capital inflows.

Industrial output growth slipped to 2.7 percent in March, chiefly because of poor performance of the manufacturing sector, showed the IIP data based on the revised base year of 2011-12.

India's industrial production contracted by 1.2 percent in February due to poor performance of manufacturing sector coupled with decrease in output of capital goods, as per data released by Central Statistics Office (CSO).