Industrious days ahead: IIP data to come out today

The IIP data remains a crucial component in measuring GDP

There is widespread expectation that the economy would pick up in the second quarter (Q2) of the current financial year (FY2017-18), compared to the previous three months when gross domestic product (GDP) grew 5.7% — the lowest so far in the Narendra Modi government’s tenure. The Index of Industrial Production (IIP), which accounts for roughly one-fourth of industrial sector data in GDP — the rest constituted by corporate results — presents a case in point till August. The IIP data for September will be released on Friday; it remains a crucial component in measuring GDP — the Q2 numbers for which will be released by this month end.

Oil the wheels of change

* Manufacturing production rose 3.1% in August, against contraction of 0.2% in July

* Electricity generation grows 8.3%, against rise of 6.6% in July

* Mining output goes up 9.4%, compared to 4.5% rise in July

MACRO PICTURE: SHIFTING GEARS

% change in Index of Industrial Production year-on-year