May industrial product output marginally higher at 2.4%

The May industrial production data is marginally higher at 2.4%. According to a CNBC TV18 poll, it was seen in at 1.7%.

One of the main drivers of growth in May IIP is because of  the growth seen in core sector.  The core sector constitutes about 38% of the IIP which is declared earlier. They are eight core sector industries, cement, steel, refineries, fertilizer, gas, mining, electricity, etc.
The growth data for the core sector stood at 3.8% for May. Here is a quick preview:

• Mining sector growth at -0.9% vs 1.8% (YoY)
• Manufacturing sector growth at 2.5% vs 6.3% (YoY)
• Electricity growth at 5.9% vs 10.3% (YoY)
• Cap goods growth at -7.7% vs 6.2% (YoY)
• Consumer goods growth at 4.3% vs 7.2% (YoY)
• Consumer durables growth at 9.3% vs 5.1% (yoy)
• Consumer non-durable goods growth at 0.1% vs 9% (YoY)
• Basic goods growth at 4.1% vs 7.5% (YoY)
• Intermediate goods growth at 2.7% Vs 0.1% (YoY)
• April IIP revised to -0.9% vs 0.1% (Prov)