We have forgotten to do our regular IIP post, so here goes. IIP for Jan 2015 dropped to a 2.6% but only after a pretty hefty upgrade in the December data, which went up all the way to 3.2% (after being first reported at 1.73%)
This is still many years of nothingness. The index hasn’t grown meaningfully in many years. For example it was at 176 in Jan 2011 and it’s at 188.7 today. That’s a gain of 12.7 points in four years, or just 7% in four years; a growth rate of 1.7% per year compounded.
The components look like everything’s just fallen:
Mining has taken a back seat and so has electricity after some thrilling months. Manufacturing is showing some signs of moving up but not enough to make it interesting.
(Click for larger image)
This is not very reliable data to be honest and gets revised often. Therefore no investment decision can be made from it.
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