Industrial output for June 2009 is a bright spot amidst the gloom, caused by a near certain drought and a swine flu outbreak in the country. The index of industrial production (IIP) for June 2009 has increased by 7.8% over the same period last year. There was a partial base effect, as mining grew by 15% compared to a 0.1% growth in June 2008 and electricity grew by 8% compared to 2.6%.
IIP
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India’s industrial output grows in May 2009
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A revival in industrial production is a healthy sign for the Indian economy, as it had turned negative in the recent past. With a question on agricultural output due to a late monsoon, it falls upon industry and services to contribute to the economy’s growth in 2009-10.
What:
- The index of industrial production for May 2009 has increased by 2.7%, doubling from its growth in April 2009.
- The manufacturing index, a keenly watched sub-indicator, grew by 2.5%.
Why:
Filed under: Companies, Top News, Economy Number Speak, IIP, industrial growth
India’s industrial growth declines
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India’s industry is in trouble, with the index of industrial production declining by 0.4% in October 2008. Recent months have seen a distinct slowdown of production but this is the first time that there has been a decline. The main cause is a 1.2% decline in the manufacturing index even as the mining and electricity indices grew a bit.
Filed under: Companies, Top News, IIP, industrial growth
The inflation-IIP double whammy
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The week has begun on a somber note. The political developments in Delhi, with the Left exiting the UPA and the Samajwadi party making an entry, will mean some changes ahead, some of them could affect business. Then, on Friday, inflation inched ever so closer to 12%. This was not as much a surprise but a confirmation that high levels of inflation won’t go away in a hurry. Indeed, if RBI’s level of 5.5% is taken as a benchmark, we have a long way to go before we can relax.