Industrial production data will come out today

12 Jul 2022 , 02:47 PM

The government will issue the much anticipated manufacturing output figures for the month of May on Tuesday (12-07-2022) evening. The Index of Industrial Production (IIP), which had been flat for the previous seven months, increased by 7.1% in April of this year.

August of the previous year saw a 13% increase in industrial production. Following that, the IIP growth stayed below 4.4% (in September) and fell to its lowest point of 1% in both November and December of the previous year. IIP increase was 27.6% in May of last year, mostly as a result of the low-base impact.

Policymakers should consider this macroeconomic data point because it provides an overview of the status of mining, manufacturing, and other significant industries.

The Ministry of Statistics and Programme Implementation indicated while releasing the IIP statistics for April last month that the increase rates over the equivalent time of the previous year should be viewed in light of the unique conditions brought on by the COVID-19 epidemic since March 2020.

Every month on the 12th (or the preceding working day if the 12th is a holiday), the Quick Estimates of IIP are provided with a six-week lag. They are put together using information gathered from source organizations, which in turn get their information from the factories and other production facilities.