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July industrial growth at 5-month high of 5.7%

In June, industrial growth - as measured by the Index of Industrial Production - had come in at 3.8 percent

September 12, 2023 / 19:07 IST
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The Index of Industrial Production, or IIP, is a key indicator of India’s monthly activity levels.

India's industrial output grew by 5.7 percent in July, according to data released by the Ministry of Statistics and Programme Implementation on September 12. At 5.7 percent, the latest industrial growth figure as per the Index of Industrial Production (IIP) is at a five-month high.

It is also above the consensus estimate of 5 percent.

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Industrial growth had come in at 3.7 percent in June - now revised to 3.8 percent - and was 2.2 percent in July 2022.

For the first four months of 2023-24, India's industrial output is up 4.8 percent year-on-year, down from 10.0 percent in April-July 2022 when the data was boosted by a favourable base effect.