The Index of Industrial Production (IIP) for August 2014 came in at a surprisingly low 0.4% after showing promise in the three months.
The disappointment was Manufacturing, with a continued negative move (-1.4%) after a low number last month. (It’s the biggest component of the IIP)
At a different classification, we see that Capital Goods lost quite a bit (-11%) and consumer goods continue to stay negative.
A bad IIP number can only be bad news now – the new government was supposed to revive manufacturing, and this is not exactly a revival.