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
April CPI inflation also declines to record low of 2.99%; manufacturing woes persist
Ishan BakshiIndustrial output grew at a faster pace in the months after demonetization, according to the new index of industrial production (IIP) series released by the Central Statistics Organisation (CSO) today.While the new IIP series isn't strictly comparable with the previous one, under the new series, industrial activity expanded by 2.6 per cent in December - the first full month since the note ban decision was announced on November 8th. By comparison, the industrial output had contracted by 0.1 per cent contraction under the old series. IIP subsequently rose to 3.8 per cent in January under the new series, higher than 3.3 per cent recorded under the earlier series. While growth slipped to 1.9 per cent in February under the new series, it was still higher than 1.2 per cent contraction observed under the old series. The higher growth during this period appears to have been driven by the mining sector which grew at 10.8 per cent in December as opposed to 5.5 per cent in the ...
Monthly WPI for April under new series will be released on May 12 instead of May 15
Currently, the IIP is calculated on base year of 2004-05