While India's headline retail inflation rate was unchanged at 5.09 percent in February, industrial growth in January decelerated to 3.8 percent.
In January 2023, India's industrial output had grown by 5.8 percent
The month-on-month rise in consumer durable production in September 2023 was 1.7 percent while consumer staples production fell by 3.5 percent
With the investments in August, the net FPI investment in the equities segment in 2021 now stands at Rs 51,121 crore.
While March IIP figures, and those over the coming months, could be encouraging only due to low-base effect, CPI inflation is not expected to stay in sub-5 per cent territory either, analysts say
This comes after IIP had contracted by 1.9 per cent in November. It had expanded in October and September after six straight months of contraction due to Covid-19. Analysts had then termed this a temporary blip.
The IIP had contracted by 1.4 percent in August 2019. " It may not be appropriate to compare the IIP in the post pandemic months with the IIP for months preceding the COVID 19 pandemic," the Ministry of Statistics and Programme Implementation said in a statement.
Change of base year to calculate GDP is done in line with the global exercise to capture economic information accurately, the government said today.
The rupee surged by a massive 78 paise to end at a nearly one-and-a-half year high of 65.82 against the US dollar on frantic unwinding of the American currency following in Uttar Pradesh.
"Industrial sector faces constraints from subdued domestic demand and weak, uncertain external demand on one hand and financing constraints, rising input prices and stalled projects on the other hand," D&B said in a report.
Even as consumer price inflation (CPI) has come down due to a dip in food inflation and Index of Industrial Production (IIP) also seen a slip as a fallout of demonetisation, the former could see upside pressure hereon, Crisil said today.
India‘s factory output contracted to -0.4 percent in December 2016 from a growth 5.7 percent in November and -0.9 percent in December 2015, amid signs of faltering industrial activity due to demonetisation.
India‘s factory output contracted 0.4 percent in December amid signs of faltering industrial activity because of demonetisation.
In an interview to CNBC-TV18, Sajjid Chinoy of JPMorgan and A Prasanna of I-Sec PD shared their readings and outlook on the two fundamental numbers of inflation and Index of Industrial Production (IIP).
Going forward it is going to be a sharp fall in the next couple of months and the negative number can further increase for the months of November and December due to demonetisation, said Madan Sabnavis, Chief Economist at Care ratings.
Strong performance led by steel, cement and petroleum refinery surged core sector growth to 6.6 percent in October, highest since April. The combined index of eight core industries now stands at 188.1 in October, which is 6.6 percent higher compared to October 2015.
India‘s factory output grew 0.7 percent in September, recovering only marginally from the previous month‘s fall of (-) 0.7 percent, data released on Friday showed.
The number is disappointing, says Aditi Nayyar, economist at ICRA adding that indicators like auto sector and trade data were hinting at a better number for this month.
"This has made the central bank's target of bringing retail price inflation down to 5 percent by March 2017 achievable; however, it may be early to rejoice given the baffling behaviour of retail inflation in the past," the rating agency said in a statement.
Index of Industrial Production (IIP) tells you whether the manufacturers of industrial goods have either increased or cut their production. Consumer Price Index directly affects the common man. It gives an idea of the prices of goods and services that he or she buys from the neighbourhood store.
Consumer non-durables have been declining for the seventh consecutive month. The contraction has declined to 2.2 percent for the month in question. Food inflaiton quickened to 7.79 percent last month.
Indicating a subdued start, SGX Nifty, at the time of writing, was trading at 7846.50 down 26.00 points.
Electricity and cement output shot up in March driving up core sector growth by 6.4 percent --- a well-timed surprise that sits well with the positive earnings season we have had so far.
This is the third consecutive month of a decline in the IIP data led by manufacturing which slipped to -2.8 percent vs -2.4 percent month-on-month (MoM).