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

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.

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