June IIP at 3.8%- Hopeless & Useless Number For Traders

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of June 2015 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.

1. The General Index for the month of June 2015 stands at 178.5, which is 3.8% higher as compared to the level in the month of June 2014. The cumulative growth for the period April-June 2015-16 over the corresponding period of the previous year stands at 3.2%.
2. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of June 2015 stand at 121.7, 188.4 and 184.0 respectively, with the corresponding growth rates of (-) 0.3%, 4.6% and 1.3% as compared to June 2014 (Statement I). The cumulative growth in the three sectors during April-June 2015-16 over the corresponding period of 2014-15 has been 0.7%, 3.6% and 2.3% respectively.
3. In terms of industries, sixteen (16) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sec tor have shown positive growth during the month of June 2015 as compared to the corresponding month of the previous year (St atement II). The industry group ‘Furniture; manufacturing n.e.c.’ has shown the highest positive growth of 83.7%, followed by 27.6% in ‘Wearing apparel; dressing and dyeing of fur’ and 21.0% in ‘Wood and products of wood & cork except furniture; articles of straw & plating material’. On the other hand, the industry group ‘Publishing, printing & reproduction of recorded media’ has shown the highest negative growth of         (-) 11.4%, followed by (-) 10.0% in ‘Electrical machinery & apparatus n.e.c.’ and (-) 8.7% in ‘Radio, TV and communication equipment & apparatus’.