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Economy

May 2012 IIP Up 2.4%, But Watch Revisions

The Index of Industrial Production (IIP) for May 2012 was at 170.4, a 2.4% increase over the same level last year. But you must note that this can be massively revised. The previous month (April 2012) was originally reported at +0.12% but is now revised to –0.90%.

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Remember that even this will likely be revised downwards – the Jan 2012 IIP number was first announced at +6.82% and later revised (twice) to a puny +0.97%. I don’t like this kind of data fudge one little bit but that’s how it is.

And then, if you care, here are the use based indexes:

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