August IIP Data Expands By 0.6%
DSIJ Intelligence / 11 Oct 2013
The IIP data for the month has disappointed the street, especially on account of the decline seen in the manufacturing sector. The market is expected to show negative impact to this news in the next trading session.
The Index of Industrial Production (IIP) for the month of August 2013 has grown by 0.6% as against 2.6% in the month of July. This is a sore disappointment from the street’s expectation of 2.5% for the August IIP figure. For the period from April-August, it stood at a miserable 0.1%.
One of the reasons for the contraction in numbers was the decline in growth seen in manufacturing. The manufacturing sector contracted by 0.1 % as against an expansion of 3% in July. The output of another key sector mining, moved down by 0.1% year-on-year in August, though it was better than the figure of -2.5% seen in July.
The growth rate in Basic goods, Capital Goods and Intermediate Goods in August 2013 stood at 1.5%, 2.0% and 3.6% respectively against that in August 2012. On the other hand, Consumer Durables and Consumer Non-Durables dipped by 7.6% and 5% respectively, while the overall growth of Consumer Goods declined by 0.8%.
The overall IIP data has really disappointed the street. Hence, one can expect to see a negative impact on the markets when they open on Monday morning.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.