IIP numbers consistent with steady improvement in GDP: Das

Government today said improvement in IIP data for July to 4.2 per cent against 0.9 per cent in the year-ago period is in line with steady improvement in the economic growth.
"July IIP data consistent with steady improvement in GDP numbers," Economic Affairs Secretary Shaktikanta Das tweeted.
He added that the Index of Industrial Production (IIP) data for capital goods and manufacturing sectors are "noteworthy".
The IIP data released by the Central Statistic Office (CSO) revealed that the growth in factory production jumped to 4.2 per cent in July as against 0.9 per cent in the year-ago period.
The June IIP number too has been revised upwards to 4.36 per cent from the earlier estimate of 3.8 per cent.

The manufacturing sector, which constitutes over 75 per cent of the index, grew by 4.7 per cent in July 2015 against a contraction of 0.3 per cent in the same month last year.

The output of capital goods, a barometer of investment, grew at an impressive rate of 10.6 per cent against a contraction of 3 per cent in the same month last year.
The GDP grew at 7 per cent in the April-June quarter, up from 6.7 per cent recorded in the year-ago period.
Commenting on the Current Account Deficit (CAD) that narrowed to USD 6.2 billion, or 1.2 per cent of GDP, for June quarter, Das said in another tweet: "First quarter CAD at 1.2 per cent better than last year. Have to remain watchful.