IIP growth revised slightly upwards after erroneous reporting - Angel Broking

As per the Quick Estimates on the Index of Industrial Production (IIP), industrial growth in April 2013 came in at 2.0%. But due to erroneous reporting, growth has been revised upwards by the Central Statistical Office (twice in a single day) to 2.3%. The revision comes from an error in the production data for the electricity sector which had previously reported marginal growth of 0.7%. The revised electricity production now stands at 4.2% similar to the previous year's growth figure of 4.6%. Manufacturing and Mining continue to remain at 2.8% and -3% respectively.

Source : Equity Bulls

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