IIP Data: Industrial manufacturing fell 1.6 per cent in January 2021
The industrial manufacturing was down 1.6 per cent in January from a yr earlier, authorities knowledge confirmed on Friday. According to a latest ballot of analysts carried out by information company Reuters, the economic manufacturing was anticipated to rise 0.9 per cent year-on-year in January. The industrial manufacturing, or the manufacturing facility output, is gauged by the Index of Industrial Production (IIP), declined 1.6 per cent in January, after registering a one per cent development in December 2020. Separate authorities knowledge confirmed that retail inflation rose 5.03 per cent in February 2021, due to greater meals and gas costs. (Also Read: Retail Inflation Rises To 5.03% In February Amid Rise In Food, Fuel Prices )
According to the Index of Industrial Production (IIP) knowledge launched by the Ministry of Statistics and Programme Implementation (MoSPI), the indices for the mining, manufacturing and the electrical energy sectors for the month of January 2021 stand at 119.7, 135.1 and 164.2 respectively.
” The January industrial output has contracted by -1.04% and it is a detrimental shock from 1% in December. The manufacturing exercise nonetheless appears to be like sturdy and there is excessive demand so the expansion will stay afloat,” stated Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.
