February IIP worsens; shrinks -1.9% from 0.8% (MoM)

January's IIP has also been revised to 0.8 percent from 0.1 percent.

India's index of industrial production (IIP) in February shrunk at -1.9 percent versus an expansion of 0.8 percent (month-on-month). This is a nine-month low for the industrial output; a CNBC-TV18 poll had forecasted this macro data to be around 0.34 percent.

The mining sector has grown at 1.4% versus 0.7% (MoM), while the manufacturing space has shown a steep degrowth coming in at -3.7% versus -0.7% (MoM). This is the lowest level seen for manufacturing since November 2011 which is a 28-month low.  

Electricity sector growth strengthened at 11.5 percent versus 6.5 percent and basic goods growth came in at 3.9 percent versus 0.9 percent.

January's IIP has also been revised to 0.8 percent from 0.1 percent.

February's capital goods grew at – 17.4 percent versus -4.2 percent. Consumer durables fell -9.3 percent versus -8.3 as seen in January.

Adding to the economic pessimism is the March trade deficit that hit a five-month high in March as merchandise exports fell for a second straight month .

Detailed break-up

• Mining Sector Growth At 1.4% Vs 0.7% (MoM)
• Manufacturing Sector Growth At -3.7% Vs -0.7% (MoM)
• Electricity Sector Growth At 11.5% Vs 6.5% (MoM)
• Basic Goods Growth At 3.9% Vs 0.9% (MoM)
• Capital Goods Growth At -17.4% Vs -4.2% (MoM)
• Consumer Durables Growth At -9.3% Vs -8.3% (MoM)
• Consumer Non-durables Growth At -1.2% Vs 4.4% (MoM)
• Consumer Goods Growth At -4.5% Vs -0.6% (MoM)
• Intermediate Goods Growth At 4.2% Vs 3.4% (MoM)
• Capital Goods Growth At -17.4% Vs 9.1% (YoY)
• Consumer Durables Growth At -9.3% Vs -2.6% (YoY)
• Mining Sector Growth At 1.4% Vs -7.7% (YoY)
• Manufacturing Sector Growth At -3.7% Vs 2.1% (YoY)
• Basic Goods Growth At 3.9% Vs -1.8% (YoY)
• Electricity Sector Growth At 11.5% Vs -3.2% (YoY)
• Consumer Non-durables Growth At -1.2% Vs 3.2% (YoY)
• Consumer Goods Growth At -4.5% Vs 0.8% (YoY)
• Intermediate Goods Growth At 4.2% Vs -0.8% (YoY)
  

 

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February IIP worsens; shrinks -1.9% from 0.8% (MoM)

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