The Index of Industrial Production (IIP) for the month of May came in at 4.7 percent versus 3.4 percent month-on-month.
The factory output in May is at a 19-month high – highest since October 2012. Electricity sector growth came in at 6.3 percent against 11.9 percent MoM.
Manufacturing sector growth too jumped to 4.8 percent versus 2.6 percent in April. Mining sector growth too improved at 2.7 percent against 1.2 percent MoM.
The jump in May IIP data is slightly surprising considering India’s core industry growth for May slowed to 2.3 percent versus 4.2 percent month-on-month (MoM) and 5.9 percent year-on-year (YoY) and core sector is 38 percent in the Index of Industrial Production.
Sector Break-up
Consumer non-durables Growth At 3.9 percent versus -3.3 percent (MoM)
Consumer durables growth at 3.2 percent Vs -7.6 percent (MoM)
Intermediate goods growth at 2.7 percent Vs 4.4 percent (MoM)
Consumer goods growth at 3.7 percent Vs -5.1 percent (MoM)
Capital goods growth at 4.5 percent Vs 15.7 percent (MoM)
Basic goods growth at 6.3 percent Vs 6.8 percent (MoM)
