Moneycontrol
Last Updated : Aug 10, 2018 07:21 PM IST | Source: Moneycontrol.com

June IIP accelerates to 7% vs 3.9% in May, at highest level in 5 months

Growth was driven by a pick up in capital goods manufacturing, which contributes 78 percent to the index, ahead of festive season.

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Industrial output measured by the Index of Industrial Production (IIP) accelerated to 7 percent month-on-month (MoM) for June from 3.9 percent in May. This is the highest level achieved by the index in the last five months.

As per data released Friday, growth was driven by a pick up in capital goods manufacturing, which contributes 78 percent of the index, ahead of festive season. Manufacturing grew 6.9 percent in June compared with a 2.8 percent increase in May.

The cumulative growth for the period April-June 2018 stands at 5.2 US over the corresponding period of the previous year.

A Reuters poll had forecast IIP growth at 5.4 percent for June.

Here are how other segments fared versus last month:

Mining growth at 6.6 percent vs 5.7 percent (MoM)
Electricity: 8.5 percent vs 4.2 percent (MoM)
Primary goods: 9.3 percent vs 5.7 percent (MoM)
Capital goods: 9.6 percent vs 7.6 percent (MoM)
Intermediate goods: 2.4 percent vs 0.9 percent (MoM)

Consumer durables: 13.1 percent vs 4.3 percent (MoM)

 
First Published on Aug 10, 2018 06:17 pm
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