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Mar 13, 2013
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IIP reverses trend, grows 2.4% after 2-month slump
Industrial production rose 2.4% in January after two straight months of decline largely on the back of manufacturing, which expanded for the first time since October, and power generation hitting this fiscal’s peak, according to data released by the Central Statistics Office (CSO) on Tuesday. Policymakers were quick to point towards early signs of a revival in the economy but analysts were cautious, stating that the industrial growth was on a low base (just 1% expansion in January 2012) and only a broad-based expansion in February on a relatively higher base of 4.2% would determine if factory sluggishness has indeed bottomed out. Manufacturing, which accounts for around 75% of the Index of Industrial Production (IIP), grew 2.7% in January, compared with 1.1% a year earlier, and the increase in power generation hit 6.4% from 3.2% a year ago.
Source -
http://www.financialexpress.com
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