Economy

IIP Growth at 1.55% for Dec 2010

Feb 11, 2011

The Index of Industrial Production showed a 1.55% growth over last year.

As usual, there were crazy revisions. November data which disappointed everyone with 2.7%, is now revised up to 3.62%. September is up to 4.9% from 4.4%. So this could just be a head fake, for all we know.

And the individual components:

Biggest loser was manufacturing at 1.02%. Weirdly, this makes sense – the Manufacturing PMI dropped in Dec as well, and stayed kinda-sorta flat in Jan.

IIP though is a very shady index to follow, so I would be wary of trading it up on down. A better bet would be the budget.

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