Who wrote this article?

Deepak Shenoy, Capitalmind's research team.

IIP Grows 2.1% As Manufacturing Remains Flat

16 Aug 2016Deepak Shenoy1 min read

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What is "IIP Grows 2.1% As Manufacturing Remains Flat" about?
What category is this article in?: Economy
Who wrote this article?: Deepak Shenoy, Capitalmind's research team.
When was this article published?: Published 16 August 2016.
How long does this article take to read?: 1 min read
What topics does this article cover?: IIP

The Index of Industrial Production (IIP) for June 2016 has come in at 2.1%. I know, it’s strange we’re still reporting this data. It’s not that much of a change, honestly.

And just to make things even more boring, IIP Manufacturing grew 0.9%. That’s just about like not growing at all. This is not “make in India”, it’s more like “please just keep making whatever you’re making in India”.

Looking at sub-sectors, cars, bikes and truck manufacturing volumes were up 8% and metals were up 7%. On the downside, Furniture manufacturing volumes were down 9% and Electrical Equipment down a whopping 46%.

However, we would not give much credence to this data, because it has no correlation with anything - GDP growth or company results or even markets. In fact, it has zero correlation with markets. So it’s just another data point - and we’re noting it as it is.