February IIP at 0.6%, beats estimates

The industrial output numbers for the month of February has come in better-than expected at 0.6 percent against an expectation of a contraction.
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Apr 12, 2013, 05.37 PM | Source: CNBC-TV18

February IIP at 0.6%, beats estimates

The industrial output numbers for the month of February has come in better-than expected at 0.6 percent against an expectation of a contraction.

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February IIP at 0.6%, beats estimates

The industrial output numbers for the month of February has come in better-than expected at 0.6 percent against an expectation of a contraction.

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The industrial output (IIP) numbers for the month of February has come in better-than expected at 0.6 percent against an expectation of a contraction. The bounce in the industrial output has come due to contribution from consumer goods sector, which turned positive for the first time in a year at 0.5 percent.. A CNBC-TV18 poll had estimated the number to be at a negative 1.7 percent.

Barring consumer goods, all other constitiuents of industrial output basket have declined. Mining sector, electricity and consumer non-durables growth continue to disappoint. Manufacturing growth fell to 2.2 percent versus 4 percent year-on-year. However, in the April-February period, industrial production grew at an annual rate of 0.9 percent.

Sector-wise growth internals:

  • Manufacturing growth at 2.2% vs 4.1% YoY
  • Electricity sector growth at -3.2% vs 8% YoY
  • Mining growth at -8.1% vs 2.3% YoY
  • Basic goods growth at -1.8% vs 7.6% YoY
  • Intermediate goods growth at -0.7% vs 1% YoY
  • Capital goods growth at 9.5% vs 10.5% YoY
  • Consumer goods growth at 0.5% vs -0.4% YoY
  • Consumer durables growth at -2.7% vs -6.2% YoY
  • Consumer non durables growth  2.9% vs 4.4% YoY
Tags  IIP February

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