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Economy

IIP for Dec 2011 Up 1.8%

India’s Index of Industrial Production (IIP) for December has been released. The index is up 1.8% over last year.

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This should end a dismal year in for manufacturing, and we might see activity pick up in Jan. This data, though, is horrendously unreliable, and revisions come often. The IIP for December, given the dismal financial results, should have been even lower and I suppose it will be corrected soon.

In a different way, use based indexes give us a picture:

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All the positive action is in Consumer goods and non-durables.