Image Source: MoSPI(You can now subscribe to our(You can now subscribe to our Economic Times WhatsApp channelThe Index of Industrial Production IIP ) in India rose 5.9 per cent in May on an annual basis as against 5 per cent in April, revealed the data provided by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday.Consensus estimates were at 4.9 per cent for the said month.The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 5.7 per cent in May 2023, the government said in a press release.The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024.As per the data, the growth rates of the three sectors Mining, Manufacturing and Electricity in in May 2024 stood at 6.6 percent, 4.6 percent and 13.7 per cent year-on-year respectively.In May 2023, the Mining, Manufacturing and Electricity grew by 6.4, 6.3, and 0.9 per cent respectively.According to use-based classification, the capital goods segment grew by 2.5 per cent in May, but it expanded by 8.1 per cent in the same month of last year.The output of consumer durables surged by 12.3 per cent during May compared to a marginal growth of 1.5 per cent in 2023.The output of non-durable consumer goods grew by 2.3 per cent after rising by 8.9 per cent in May 2023.Goods related to infrastructure and construction saw a marginal grew by 6.9 per cent in May 2024, against a 13.0 per cent expansion YoY.The data also revealed that, in comparison to the same period last year, the output of primary goods increased by 7.3 per cent in May 2024 as against 3.6 per cent.
Image Source: MoSPI
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
The Index of Industrial Production IIP ) in India rose 5.9 per cent in May on an annual basis as against 5 per cent in April, revealed the data provided by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday.Consensus estimates were at 4.9 per cent for the said month.The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 5.7 per cent in May 2023, the government said in a press release.The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024.As per the data, the growth rates of the three sectors Mining, Manufacturing and Electricity in in May 2024 stood at 6.6 percent, 4.6 percent and 13.7 per cent year-on-year respectively.In May 2023, the Mining, Manufacturing and Electricity grew by 6.4, 6.3, and 0.9 per cent respectively.According to use-based classification, the capital goods segment grew by 2.5 per cent in May, but it expanded by 8.1 per cent in the same month of last year.The output of consumer durables surged by 12.3 per cent during May compared to a marginal growth of 1.5 per cent in 2023.The output of non-durable consumer goods grew by 2.3 per cent after rising by 8.9 per cent in May 2023.Goods related to infrastructure and construction saw a marginal grew by 6.9 per cent in May 2024, against a 13.0 per cent expansion YoY.The data also revealed that, in comparison to the same period last year, the output of primary goods increased by 7.3 per cent in May 2024 as against 3.6 per cent.
