Industrial production growth slows to 1.7% in Dec

[kawaraj]

NEW DELHI: Industrial production growth rate slowed to 1.7 per cent in December last year on sequential basis mainly due to a contraction in the mining and quarrying sector.

The growth in factory output, as measured by the Index of Industrial Production (IIP), in the month under review was, however, higher as compared to December, 2013 when it expanded by 0.1 per cent.


Industrial production growth slows to 1.7% in Dec - The Times of India

We will track Indian macro econ data as one Indian member requested in an earlier thread. This is to put to proof of how fast India economy is growing. We just can't plainly say a surprising trend comes into being while all other indicators suggest otherwise.

 

[kawaraj]

For Jan, see

Manufacturing growth slips to three-month low; ups rate cut hope - The Times of India

When your statistic bragging 7.4 percent red hot growth, your central bank is thinking of windows of rate cuts.

How sarcastic.

 

[RisingShiningSuperpower]

NEW DELHI: Industrial production growth rate slowed to 1.7 per cent in December last year on sequential basis mainly due to a contraction in the mining and quarrying sector.

The growth in factory output, as measured by the Index of Industrial Production (IIP), in the month under review was, however, higher as compared to December, 2013 when it expanded by 0.1 per cent.


Industrial production growth slows to 1.7% in Dec - The Times of India

We will track Indian macro econ data as one Indian member requested in an earlier thread. This is to put to proof of how fast India economy is growing. We just can't plainly say a surprising trend comes into being while all other indicators suggest otherwise.

The number is fake.

Somebody made a mistake.

How can industrial production growth be only 1.7% when the economy grew 7.4% during the same period?

 

[Fattyacids]

The number is fake.

Somebody made a mistake.

How can industrial production growth be only 1.7% when the economy grew 7.4% during the same period?

In Vedic math, it is correct. What you learned in school is wrong. You need to re-discover ancient Vedic wisdom. The study of economics and GDP growth originated in India 99900 years ago.

 

[RisingShiningSuperpower]

In Vedic math, it is correct. What you learned in school is wrong. You need to re-discover ancient Vedic wisdom. The study of economics and GDP growth originated in India 99900 years ago.

You are very true!

But the incompetent babus only use western math and statistics. Modi-ji should force them to use Vedic math.

 

[Mike_Brando]

In Vedic math, it is correct. What you learned in school is wrong. You need to re-discover ancient Vedic wisdom. The study of economics and GDP growth originated in India 99900 years ago.

Lol,the CCP is really getting desperate by the each passing day it seems for it is deploying more and more 50 centers like you to spread negative propaganda against potential adversaries!Man,sometimes i feel sorry for 50 centers like you who toil day and night just to earn a few coins!!

 

[Kloitra]

How can industrial production growth be only 1.7% when the economy grew 7.4% during the same period?

Mostly because service sector holds the lion's share of growth.

 

[RisingShiningSuperpower]

Mostly because service sector holds the lion's share of growth.

Services sector sees moderate expansion in December: HSBC | The Indian Express

The growth in service sector is too modest to have caused 7.4% overall GDP growth.

The babus must do a better job of measuring the economy using Vedic statistics.

 

[Kloitra]

Services sector sees moderate expansion in December: HSBC | The Indian Express

The growth in service sector is too modest to have caused 7.4% overall GDP growth.

The babus must do a better job of measuring the economy using Vedic statistics.

In the third quarter of the fiscal, growth in agricultural sector contracted by 0.4 percent as against a growth of 3.8 percent in the corresponding period last year.

Mining and quarrying sector too expanded at a slower rate of 2.9 percent as compared to 4.2 percent as against 4.2 percent in third quarter of last fiscal.

Manufacturing too slowed to 4.2 percent as against a growth of 5.9 percent registered year-on-year.
Financial, real estate and professional services segment grew by 15.9 percent in third quarter, a much faster pace than the similar period last year.

India's Q3 GDP soars to 7.5% as compared to 6.9% last year

BTW, from your own link:

Meanwhile, the headline HSBC Composite Output Index — that maps manufacturing as well as services sectors output — stood at 52.9 in December, down from 53.6 in November.

 

[Fattyacids]

India's Q3 GDP soars to 7.5% as compared to 6.9% last year

"Last month India revised the previous year’s expansion to 6.9 percent from 4.7 percent, prompting economists including Reserve Bank of India Governor Raghuram Rajan to question the growth surge."

India Says Its Economy Will Grow 7.4%, But Economists Can't Figure Out Why - Bloomberg Business

 

[Kloitra]

Last month India revised the previous year’s expansion to 6.9 percent from 4.7 percent, prompting economists including Reserve Bank of India Governor Raghuram Rajan to question the growth surge."

India Says Its Economy Will Grow 7.4%, But Economists Can't Figure Out Why - Bloomberg Business

May be the reported growth is questionable. But point here is how much the industrial growth affect overall growth. The share of industrial output in overall growth in India is small, so despite the apparent lack of growth in this sector, economy can grow faster.

 

[RisingShiningSuperpower]

May be the reported growth is questionable. But point here is how much the industrial growth affect overall growth. The share of industrial output in overall growth in India is small, so despite the apparent lack of growth in this sector, economy can grow faster.

You are correct that industry accounts for a very small portion of overall GDP and GDP growth. But this is an incredibly bad thing. India needs more industry. India cannot become a superpower by 2020 without a thriving industrial sector.

However, under Modi-ji's brilliant leadership, I am certain that India's industry will grow very fast. India will be a superpower by 2020!

 

[Fattyacids]

May be the reported growth is questionable. But point here is how much the industrial growth affect overall growth. The share of industrial output in overall growth in India is small, so despite the apparent lack of growth in this sector, economy can grow faster.

Valid point. But GDP size remained the same for last year, even after the revising growth upward by 50%. Where did the extra growth came from? I think that's what Kawaraj was trying to point out.

 

[Kloitra]

Valid point. But are you aware, GDP size remained the same for last year, even after the revising growth upward. I think that's what Kawaraj was trying to point out.

He neglected that the industrial growth slowed compared to previous months. The growth published by govt is for the quarter.The figures are dubious, if even the RBI chief doesn't understands them. But showing that industrial output slowed doesn't proves them wrong.

 

[Beidou2020]

And they want the world to believe their growth increased by 50%