For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Juy IIP rises to 2.6%; beats estimates

|
Juy IIP rises to 2.6%; beats estimates
India's July index for industrial output (IIP) has risen sharply to 2.6%, beating estimates, thanks to a sharp increase in capital goods.
 

The August figure is much better then the July figure wherein factory output contracted -2.2%. As per Use-based classification, the growth rates in July 2013 over July 2012 are 1.7% in Basic goods, 15.6% in Capital goods and 2.4% in Intermediate goods (Statement III).

The Consumer durables and Consumer non-durables have recorded growth of (-) 9.3% and 6.8% respectively, with the overall growth in Consumer goods being (-) 0.9%.

Factory output has been contracting for some months now, as demand in the economy slows, weighed by low consumption and high interest rates.

Economists and analysts believe the situation is unlikely to improve anytime soon, given the slowing consumption, particularly in sectors like automobiles and infrastructure.

However, the sharp growth in the capital goods sector, has boosted the IIP for the month of July, though analysts say that this could be a flash in the pan.

GoodReturns.in

Read more about: iip infrastructure automobiles
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more