Segments are yet to recover from pre-covid period of 2019-20 when the economy started slowing down
India's industrial production grew 3.1 per cent in September, according to official data released on Friday. The Index of Industrial Production (IIP) had grown 4.4 per cent in September 2021. As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew by 1.8 per cent in September 2022. The mining output rose 4.6 per cent and power generation increased 11.6 per cent during the month.
IIP shrinks 0.8% in Aug - a first in 17 months
For the ninth month in a row, retail inflation has remained above the Reserve Bank of India's tolerance level of 6%
Electricity output has grown around 11%; consumer durables and non-durables have contracted 6.7% and 2.4%, respectively
While most criticisms of the data related to GDP are on overestimating economic activities on ground, the latest one in fact censures it for underestimating the manufacturing sector in recent times
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What do IIP numbers tell us about the economy? What does Martin Wolf think of Indian and global economies? How will the banking sector perform in Q1? Moving averages a must for trading? Answers here
A significant jump in IIP growth indicates economic recovery. Also, is the recovery sustainable given the raging inflation and adverse global geopolitical conditions?
Electricity was the biggest driver of industrial output, rising 23.5%. Manufacturing output grew by 20.6%, while mining output grew by 10.9%
According to MPC's own projections, the inflation rate may not come down below 6% on average before the fourth quarter of the current financial year
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Mining grew at a faster 4.5% in February, from 2.8% in Jan; Mfg growth slipped to 0.8% from 1.1%
Crude oil production contracted 2.4 per cent in January, the pace which is the highest in six months
Both these numbers--the second advance estimates for 2021-22 and the actual GDP growth for Q3 of the year--are slated to be released on February 28
Manufacturing output contracted 0.1% while mining and electricity grew at 2.6% and 2.8%, respectively
A year-on-year analysis is useful in a conceptual way as it accounts for the seasonal impact on the data, but it tells you next to nothing about the current state of the economy.
Rising pricing pressure in clothing and footwear (8.3%) and fuel group (10.95%) contributed to the rise in retail inflation while food prices rose to 4.05%
The BSE Midcap and Smallcap indices gained 1 per cent and 0.7 per cent, respectively. Telecom stocks logged smart gains after telcos pitched for 90-95 per cent cut in 5G spectrum auction prices
There are other metrics too, such as e-way bills, mobility measures and power generation, all of which are used to support the national accounts figures, not replace them