IIP
India's factory output declines by 10.4 pct in July
New Delhi: India’s factory output, as measured by the Index of Industrial Production (IIP), has contracted by 10.4 percent in July, Indian government data released on Thursday revealed.
"In view of the preventive measures and announcement of nation-wide lockdown by the Government to contain spread of COVID-19 pandemic, a large number of the industrial sector establishments were not operating from the end of March, 2020 onwards," read the government statement.
"This has had an impact on the items being produced by the establishments during the period of lockdown. With the lifting of restrictions in the subsequent periods, industrial activity is resuming. The Index for the month of July 2020 stands at 118.1 as compared to 54.0, 89.5 and 108.9 for April 2020, May 2020 and June 2020," it said.
For the month of July 2020, the Quick Estimates of Index of Industrial Production (IIP)with base 2011-12 stands at 118.1. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2020 stand at 87.2, 118.8 and 166.3 respectively.
As per Use-based classification, the indices stand at 114.1 for Primary Goods, 70.9 for Capital Goods, 122.9 for Intermediate Goods and 125.2 for Infrastructure/ Construction Goods for the month of July 2020.
Further, the indices for Consumer durables and Consumer non-durables stand at 99.5 and 156.4 respectively for the month of July 2020.
Along with the Quick Estimates of IIP for the month of July 2020, the indices for June 2020 have undergone the first revision and those for April 2020 have undergone the final revision in the light of the updated data received from the source agencies.
The Quick Estimates for July 2020 have been compiled at a weighted response rate of 87 percent, the first revision for June 2020 at a weighted response rate of 93 percent and the final revision for April 2020 at a weighted response rate of 94 percent.
India's GDP contracted 23.9 percent in the April-June quarter, the worst ever performance on record, the National Statistical Office (NSO) data showed last month.
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