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IIP Growth Back Down to -0.12%


MOSPI has released IIP figures today. The Index of Industrial Production fell by 0.12%, year on year, in November 2012. Note the large drop from the October figure of 8%+ which has been offset now.


Mining has fallen substantially over last year, while there has been moderation in both manufacturing and electricity.

The use-based indexes also show moderation in every sub-item:


Growth in consumer durables has declined significantly.

While this data does show a slowdown in growth, it might not be accurate as the IIP is known to be revised often at a later point.

IIP growth for October has been revised to +8.34% from the first announced +8.21%.

IIP Growth for August 2012 has been revised to +1.67% from the first announced 2.66% and the first revision down to +2.29%.


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