The manufacturing segment constitutes the bulk of the IIP at 77.6%
Industrial production growth declined to 2 per cent in June, mainly on account of poor show by mining and manufacturing sectors.
Experts partially attribute slowdown to cut in spend during elections
Mining growth was at 3.2% in May as against 5.8% in the corresponding month of the last fiscal
This might pull down the growth of GDP in FY19, other things remaining the same
Manufacturing fell 0.4 per cent month-on-month
Growth was subdued due to contraction in mining and lacklustre manufacturing expansion
The BSE Capital Goods Index ended the day with losses of 1.9% on Monday
The consumption story, and revival in NBFC lending may improve prospects
Capital goods, mining dragged it down
June CPI was at 5% vs 4.87% in May
Turnaround in capital goods production, uptick in overall manufacturing growth deliver better growth figure
The industrial growth, measured on the Index of Industrial Production (IIP), was 3.2 per cent in April last year
Experts said that the near-term market trend will be dictated by domestic macro data like IIP, CPI and WPI, movement of crude oil prices and currency (INR vs USD) and progress of monsoon.
Growth in the primary goods category within the Index of Industrial Production (IIP) is expected to be marginally weaker for March
Due to the subdued performance of manufacturing sector coupled with a contraction in output of consumer durables
A marginal rise in manufacturing and growth in mining and electricity helped the recovery
The data for capital goods in the new series are now captured in terms of 'work in progress'
Assocham urged the government to initiate more effective short-term revival measures
Finally, all key economic indicators have one base year, but IIP could remain volatile