IIP for the month of February 2012. :Microsec

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IIP for the month of   February  2012.

Despite a lower base of last year, India's Industrial Output growth came in at 4.1 percent YoY in February, 2012, much lower than ours (6.4 percent) as well as consensus estimate (6.7 percent). However, the pace of expansion in Industrial Production was faster than a sharply revised 1.1 percent YoY growth in January 2012 against 6.8 percent YoY reported earlier. This major downward revision in January production growth was mainly on account of correction in the production data of sugar, which was wrongly taken at 13.41 million tonnes as compared to 5.81 million tonnes. As a result growth for Food Products and Beverages was revised sharply downward to 17 percent YoY against 92.6 percent YoY reported previously. Similarly, growth for Consumer Non-durables was revised downward to 11 percent YoY vis-à-vis 42.1 percent YoY reported earlier.