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Jan 2013 IIP at +2.4%

The Index of Industrial Production (IIP), an indicator I tend to distrust for lack of any relation to reality, shows an uptick in Jan. (Why do I track it? It’s all we have)


All the index numbers seem to show a small recovery. But it’s too early to call a turn around. Recent numbers – of December and October – have been revised up marginally to 8.40% and –0.50% respectively.

Another way to look at IIP is the use based indexes. I’ve attached them below:


Other than in capital goods, every other item sees some sort of upmove in Jan. Will this sustain into the future? Let’s wait till Feb data comes, at least.

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