IIP slumps to -1.8%; capital goods leads fall

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IIP slumps to -1.8%; capital goods leads fall
The Index for Industrial Production (IIP) for June has slumped to -1.8% for June, confirming a sharp slowdown in industrial activity. Economists had largely expected the IIP data for June to be positive.

May IIP has been revised upwards, while May IIP stood at 2.5%.

Capital goods lead the fall with the plunge of (-) 27.9%. Stocks like L&T dropped on reports of the figures.

Mining, Manufacturing and Electricity sectors for the month of June 2012 stand at 124.3, 178.1 and 157.0 respectively, with the corresponding growth rates of 0.6%, (-)3.2% and 8.8% as compared to June 2011.

The cumulative growth in the three sectors during April-June 2012-13 over the corresponding period of 2011-12 has been (-) 1.1%, (-)0.7% and 6.4% respectively.

The industry group ‘Radio, TV and Communication Equipment and Apparatus' has shown the highest growth of 16.8%.


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