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
The index had risen 4.5 per cent in October last year against 1 per cent in the previous month
The 3.1 per cent YoY growth was driven by a jump in mining and manufacturing activity
Industrial production growth slips to 3.1 per cent in September, mainly due to the waning low base effect while mining and manufacturing sectors performed well
Core sector rose 16.6 per cent in the first half of the current financial year against a contraction of 14.5 per cent in the corresponding period of the previous year