IIP for July beats estimates at 4.2 percent

The industrial activity, as measured by the index of industrial production (IIP), jumped to 4.2 percent from 4.4 percent (YOY) for the month of July.

As per reports, some economists had forecast the IIP to slow down to 3.41 percent. The index is recorded by analysing data in two ways, which is by use-based and sector-based.

Breaking up the numbers, manufacturing rose 4.7 percent beating 4.6 percent, mining rose 1.3 percent beating 0.3 percent, electricity rose 3.5 percent beating 1.3 percent (MOM).

The growth rate is expected to hold around 4 percent in the coming months with at least 5-6 percent growth to show that the economic recovery is in full steam, said experts.