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Index of Industrial Production (IIP) Data for July 2024 Released

13 September 20242 mins read by Angel One
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2024 stand at 116.0, 148.6 and 220.2, respectively.
Index of Industrial Production (IIP) Data for July 2024 Released
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The IIP for July 2024 grew by 4.8%, up from 4.7% in June. This growth was driven by increases in all three sectors: Mining (3.7%), Manufacturing (4.6%), and Electricity (7.9%).

Key Highlights

  • Quick Estimates: The IIP stood at 149.6 in July 2024 compared to 142.7 in July 2023.
  • Sectoral Indices: Indices for Mining, Manufacturing, and Electricity were 116.0, 148.6, and 220.2, respectively.
  • Manufacturing Contributions: Basic metals (6.4%), coke and petroleum products (6.9%), and electrical equipment (28.3%) were the top contributors to manufacturing growth.
  • Use-Based Classification: Indices for Primary Goods, Capital Goods, Intermediate Goods, Infrastructure/Construction Goods, Consumer Durables, and Consumer Non-Durables were 150.1, 114.4, 164.3, 178.7, 126.6, and 146.8, respectively.  
  • Growth Rates: Primary goods grew by 5.9%, Capital Goods by 12.0%, Intermediate Goods by 6.8%, Infrastructure/Construction Goods by 4.9%, Consumer Durables by 8.2%, and Consumer Non-Durables by -4.4%.

Revisions and Data Quality

  • The IIP for June 2024 has undergone its first revision, and the IIP for April 2024 has undergone its final revision based on updated data.
  • The Quick Estimates for July 2024, the first revision for June 2024, and the final revision for April 2024 were compiled at weighted response rates of 91%, 94%, and 96%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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