Industrial Production in India measures the change in the output of the manufacturing, mining, and electricity sectors. It is a key indicator of the physical volume of production and serves as a proxy for economic growth in the industrial sector. The data is highly sensitive to changes in domestic demand, export orders, and government infrastructure spending. Because it is released monthly, it provides a more frequent update on the economy's health than quarterly GDP figures.
The Index of Industrial Production (IIP) is calculated by the National Statistical Office (NSO) using a weighted average of production indices for various commodity groups, with a fixed base year.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Mar 18, 2013 | -2.10 | -0.90 | -1.20 |
