The Index of Industrial Production (IIP) for the month of August grew at 2.7 percent versus a paltry -0.2 percent (revised from 0.1) in July. In the April-August period, industrial production expanded an annual 0.4 percent.
The Data Showing signs of turnaround, industrial production grew by 2.7 per cent in August, reversing the trend of contraction witnessed during the previous two months. However, the overall factory output, as measured by the Index of Industrial Production (IIP), grew at a slower pace than 3.4 per cent recorded in August 2011. On sequential basis, IIP contracted by (-) 0.18 per cent in July and (-) 1.8 per cent in June. Industrial output during April-August, as per official data released today, was 0.4 per cent down from 5.6 per cent in the same period in 2011-12. Manufacturing, which accounts for the bulk of industrial production, rose 2.9 per cent in August, lower than 3.9 per cent from a year ago. The growth for the April-August was flat, as against 6 per cent growth in the year-ago period.
However, the more disappointing figure was the September Consumer Price Index (CPI) number. The September CPI combined inflation rose 9.73% year-on-year, up 10.03% month-on-month.
The Data Showing signs of turnaround, industrial production grew by 2.7 per cent in August, reversing the trend of contraction witnessed during the previous two months. However, the overall factory output, as measured by the Index of Industrial Production (IIP), grew at a slower pace than 3.4 per cent recorded in August 2011. On sequential basis, IIP contracted by (-) 0.18 per cent in July and (-) 1.8 per cent in June. Industrial output during April-August, as per official data released today, was 0.4 per cent down from 5.6 per cent in the same period in 2011-12. Manufacturing, which accounts for the bulk of industrial production, rose 2.9 per cent in August, lower than 3.9 per cent from a year ago. The growth for the April-August was flat, as against 6 per cent growth in the year-ago period.
However, the more disappointing figure was the September Consumer Price Index (CPI) number. The September CPI combined inflation rose 9.73% year-on-year, up 10.03% month-on-month.
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