The Index of Industrial Production (IIP) data for August 2011 was 4.04% higher than last year. Note: This is not very reliable data, so take it with appropriate pinches of salt.
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Mining – now that’s in bad shape. IIP in general is seeing a downtrend, in whatever you can believe.
Let’s look at the “use based” IIP numbers:
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If you remove the squiggles, the downternd is evident in every element; consumer durables and non-durables, which showed some promise recently, have both dipped. Now every use-based element is under 10%.
Revisions – last month which was first revealed at 3.3% is now revised to 3.8%, and May was revised up to 6.2% from 5.9%. But I must complain that they keep changing the numbers – this time, nearly every number from April has been revised.
