April IIP growth revised to 2.3% after data goof-up
13 Jun 2013
The government today announced a revision in the index of industrial production (IIP) for April 2013 to 2.3 per cent, against the 2 per cent reported earlier (See: April factory output growth disappoints at mere 2%), saying there was an incorrect recording of electricity production.
In fact, the government corrected the IIP twice during the day. The first correction this morning put the IIP at 2.2 per cent, only to be revised to 2.3 per cent within a few hours.
"Due to wrong recording of production data for electricity sector, the index of industrial production for the electricity sector for the month of April 2013 is corrected to 159.1 from 153.8", the ministry of statistics and programme implementation stated in a press release today.
''As a result, the general index for the month of April 2013 is revised upward to 167.8 from 167.3 shown in the press release. The revised index is 2.3 per cent higher as compared to the level in the month of April 2012,'' it added.
According to the official data released yesterday, the industrial output grew at 2% in April.
The revised manufacturing growth for April - earlier stated 0.7 per cent - was revised to 4.2 per cent, which changes the number by large numbers. However, the growth rate for mining and manufacturing output was kept unchanged.
"The indices of industrial production for the mining, manufacturing and electricity sectors for the month of April 2013 now stand at 121.0, 177.8 and 159.1, respectively, with the corresponding growth rates of - 3.0 per cent, 2.8 per cent and 4.2 per cent as compared to April 2012", the press release said.
As per the use-based classification, the growth rates for basic goods in April 2013 over April 2012 was also revised to 2.1 per cent from 1.3 per cent.
However, growth rates for capital goods and intermediate goods remained unchanged at 1 per cent and 2.4 per cent.
Output growth of consumer durables and consumer non-durables also remained unchanged at their previous levels of -8.3 per cent and 12.3 per cent, respectively.
.webp)
