July IIP number throws up positive surprise

The Industrial Production (IIP) reported growth of 2.6% in July 2013 as against an upwardly revised -1.8% in June. The IIP Index reported a growth of 3.94% compared to decline of 30 bps last month.

The volatile capital goods index swings IIP headline in positive territory, suggesting turn around. The Capital goods continue to remain volatile and posts a strongly positive growth of 15.6% YoY.

The manufacturing reversed its declining trend and posted a relatively robust 3% YoY expansion in July.

The Consumer goods stays marginally negative primarily on account of durables.

Source : Equity Bulls

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