What is IIP data?

What is IIP data?

Index of Industrial Production (IIP) in simplest terms is index which details out the growth of various sectors in an economy. E.g. Indian IIP will focus on sectors like mining, electricity, Manufacturing & General. Also base year needs to be decided on the basis of which all the index figures would be arrived at. In case of India the base year has been fixed at 1993-94 hence the same would be equivalent to 100 PointsIndex of Industrial Production (IIP) is an abstract number, the magnitude of which represents the status of production in the industrial sector for a given period of time as compared to a reference period of time.

Indian markets jumped up, snapping early losses, on the back of IIP data which was in line with expectations. At 12:17 pm, BSE Sensex was up 71 points or 0.73 per cent at 9,902. iip dataIndex of Industrial Production for September grew by 4.8 per cent compared to 1.3 per cent in the previous month but lower than 6.98 per cent year-on-year. Manufacturing rose 4.8 per cent against 7.45 per cent y-o-y. Capital goods advanced 18.8 per cent versus the 20.9 per cent growth last year. Mining and consumer durables production were at 5.7 per cent and 13.1 per cent respectively, up from the last year.