February IIP growth at 5% versus -2% YoY, fastest pace in nine months

NEW DELHI: The Index of Industrial Production (IIP) for February grew at a robust 5% versus a contraction of (-)2% in February last year. This is its fastest pace in nine months, mainly driven by growth in capital goods and consumer goods sectors.

The April-February IIP stands at 2.8% versus (-)0.1% YoY. The IIP data for January has been revised to 2.8% from 2.6%.
While the mining output grew at 2.5% versus 2.3% YoY, the consumer goods output grew at 5.2% versus -5.2% YoY.

The cumulative growth in mining, manufacturing and electricity sectors during April-February 2014-15 over the corresponding period of 2013-14 has been 1.5%, 2.2% and 9.1% respectively.

Capital goods rose 8.8% over the same period last year, while consumer non-durables rose 10.7%, indicating increasing discretionary spending among the middle classes.

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