Positive IIP data to boost market sentiments on Tuesday
DSIJ Intelligence / 11 Mar 2017
The IIP considered a bellwether of factory output, grew by a more robust 2.7 per cent. On Tuesday, the Indian capital markets may open in green owing to the positive manufacturing data.
The Index of Industrial Production (IIP) rose to 2.7 per cent in January 2017 along with three tracked sectors of mining, electricity and manufacturing, witnessing positive growth. However, IIP had contracted by 1.6 per cent in January 2016. It stood at 0.1 per cent in December last year.
The cumulative growth for the period from April 2016 to January 2017 stands at 0.6 per cent over the corresponding period of the previous year.
The IIP considered a bellwether of factory output, grew by a more robust 2.7 per cent, apparently shrugging off the impact of demonetisation. Meanwhile, mining sector rose by 5.3 per cent in January, electricity production increased by 3.9 per cent and manufacturing output grew by 2.3 per cent.
But in terms of industries, the IIP data shows that just 9 out of the 22 industry groups in the manufacturing sector, have registered positive growth.
On Tuesday, the Indian capital markets may open in green owing to the positive manufacturing data.
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