Quick Summary
The release of quick estimates of Index of Industrial Production (IIP) for the month of September, 2021 shows a sustained increase in industrial production. The IIP, in FY 2021-22, has grown from an average of 121.3 in Q1 to 130.2 in Q2. The IIP in Q2 would have been still higher but for heavy monso
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FAQ :
Industrial production showed a sustained increase, with the Index of Industrial Production (IIP) growing from an average of 121.3 in Q1 to 130.2 in Q2 of FY 2021-22.
Consumer price inflation gradually declined throughout FY 2021-22, falling from 5.6 per cent in Q1 to 5.1 per cent in Q2, and further to 4.5 per cent by October.
The Purchasing Manager's Index (PMI) for services accelerated to a decadal high of 58.4 in October 2021, and average hotel occupancy rates rose from 55% in Q1 to over 60% in Q2.
Yes, exports have emerged as a key growth driver, crossing $30 billion for the seventh consecutive month in October 2021, with cumulative exports up 54.5% over the same period in 2019.
The steady rise in outstanding credit, particularly retail credit, suggests strengthening consumption within the economy, supported by a 54% increase in CIBIL inquiry volumes between February and October 2021.
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