IIP comes in at 4.8% on year in July

The index of industrial production or IIP growth rate for July 2024 is 4.8%, up marginally from 4.7% in June 2024, latest data showed. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of July 2024 are 3.7 percent, 4.6 percent and 7.9 percent respectively. The Quick Estimates of IIP stands at 149.6 against 142.7 in July 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2024 stand at 116.0, 148.6 and 220.2 respectively.

Within the manufacturing sector, top three positive contributors for the month of July 2024 are - "Manufacture of basic metals" (6.4%), "Manufacture of coke and refined petroleum products" (6.9%), and "Manufacture of electrical equipment" (28.3%). As per the use base classification, the indices stand at 150.1 for Primary Goods, 114.4 for Capital Goods, 164.3 for Intermediate Goods and 178.7 for Infrastructure/ Construction Goods for the month of July 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 126.6 and 146.8 respectively.

The corresponding growth rates of IIP as per Use-based classification in July 2024 over July 2023 are 5.9 percent in Primary goods, 12.0 percent in Capital goods, 6.8 percent in Intermediate goods, 4.9 percent in Infrastructure/ Construction Goods, 8.2 percent in Consumer durables and -4.4 percent in Consumer non-durables (Statement III). Based on use-based classification, top three positive contributors to the growth of IIP for the month of July 2024 are - Primary goods, Intermediate goods and Consumer durables.

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