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IIP Data: Strong jump in industrial production, IIP was 19.6 percent in May as against 7.1% in April

IIP Data: There has been a great jump in industrial production in the month of May. The IIP (Index of Industrial Production) in May stood at 19.6 per cent while in April the IIP stood at 7.1 per cent. These figures have been released by the Ministry of Statistics.

condition of different sectors
According to the Ministry of Statistics, the output of the manufacturing sector has grown at the rate of 20.6 percent in the month of May, while the mining output has grown by 10.9 percent and power generation at the rate of 23.5 percent. Last year in May 2021, the IIP growth rate was 27.6 percent. In fact, due to the low-base effect, these figures came in May last year because in 2020 the country’s industrial development vehicle came to a standstill due to the lockdown.

In the month of May, the capital goods sector has registered a growth of 54 percent, while in April its growth rate was at 14.7 percent. On the other hand, if we talk about intermediate goods growth, it has been 17.9 percent in May, while in April it grew at the rate of 7.6 percent. The growth of primary goods was 17.7 per cent in May as compared to 10.1 per cent in April. The production rate of consumer durables stood at 58.5 per cent as against 8.5 per cent in April. While the growth rate of non-consumer durables stood at 0.9 per cent in May as against 0.3 per cent in April.

However, today the retail inflation rate has also come, which has been 7.01 percent in June. It is a matter of concern that the inflation rate still remains above 7 percent.

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