Low base, rising demand accelerates June YoY industrial production

Accordingly, wavening impact of Covid 2.0 as well as easing travel restrictions triggered demand and subsequently the production rate.

On Thursday, the Index of Industrial Production (IIP) for June showed a rise of 13.6 per cent from a decline of (-) 16.6 per cent reported for the like month a year ago.

However, the production rate was lower than the exponential growth of over 28.60 per cent seen for May.

In June, the IIP index reading stood at 122.6 (index reading) as against May's 116.

The YoY and sequential growth rate movements are being impacted by the different types of lockdowns imposed during 2020 and 2021.

Last year, while the country observed a full-fledged lockdown, the same was partially imposed across different regions of the country.

"For the month of June 2021, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 122.6," the Ministry of Statistics and Programme Implementation said.

"The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of June 2021 stand at 105.5, 121 and 169.1 respectively."