Index of Industrial Production (IIP) for the month of May came in at 1.2% versus a contraction of (-)1.35% in April.
Index of Industrial Production (IIP) for the month of May came in at 1.2% versus a contraction of (-)1.35% in April. Data for April has been revised from an initial estimated contraction of (-)0.8%.
The General Index for the month of May 2016 stands at 181.8, which is 1.2 percent higher as compared to the level in the month of May 2015. The cumulative growth for the period April-May 2016 over the corresponding period of the previous year stands at (-) 0.1 percent.
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of May 2016 stand at 129.5, 188.6 and 204.2 respectively, with the corresponding growth rates of 1.3 percent, 0.7 percent and 4.7 percent as compared to May 2015.
In terms of industries, fourteen out of the twenty-two industry groups in the manufacturing sector have shown positive growth during the month of May 2016 as compared to the corresponding month of the previous year
The government has said it will come out with revised IIP and WPI indices by the end of this year with a new base year of 2011-12 in order to make them more representative of the changing economic scenario.
“IIP is due for revision. It is at a very advanced stage. WPI is also up for revision. Similar to IIP, it is also at the very advanced stage. Both will be revised, as per my expectations, within the current year,” Chief Statistician TCA Anant has said.
(With inputs from Agencies)