The Index of Industrial Production (IIP) for April 2014 came in at a nice +3.36%.
Manufacturing bounded back big time with +2.6%, the best figure since July 2013. Electricity grew nearly 12% on more production. And Mining kept its head above water at +1.2%.
And the use based indexes:
Basic and Capital goods did really well, with Capital Goods up 15%. Consumer goods, both durables and non-durables, did badly. The demand has moved to industry. This is good because there is a lot of idle manufacturing capacity that needs to be used.
A positive report, and the IIP has gotten more reliable recently. Let’s see how the market takes it (tomorrow).