IIP growth moderates to 3.2% in December 2024

The Quick Estimates of Index of Industrial Production (IIP) data showed today that IIP growth rate for the month of December 2024 is 3.2 percent which was 5.2 percent (Quick Estimate) in the month of November 2024. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of December 2024 are 2.6 percent, 3.0 percent and 6.2 percent respectively. The Quick Estimates of IIP stands at 157.2 against 152.3 in December 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2024 stand at 143.1, 156.2 and 192.8 respectively. Within the manufacturing sector, 16 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in December 2024 over December 2023. The top three positive contributors for the month of December 2024 are Manufacture of basic metals (6.7%), Manufacture of electrical equipment (40.1%) and Manufacture of coke and refined petroleum products (3.9%).

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