The Index of Industrial Production (IIP) for September 2014 is at a three month high of 2.5%. I know, even 2.5% sounds low, but it is indeed better than earlier. IIP for Jun 2014, which was first announced at 3.4% has been revised up to 4.3%.
Mining and Electricity are both benign, while Manufacturing (the heaviest weight in the index) recovered to be up 2.5%, the highest in three months.
If you’re keen on the use-based indexes, here you go:
Consumer Durables have gone up, but it’s been the worst for a while. Basic materials reversed out the heady growth of the early part of this year.
This data might not be very reliable, so this post isn’t going to look at it with a lot of seriousness. It’s just a good data point, but it flies in the face of lower tax collections and thus, government austerity. Wonder what’s really going on!
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