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March IIP data today: Industrial growth likely to pick up

Updated : May 10, 2019 10:08 AM IST

India's factory output data, as measured in terms of the Index of Industrial Production (IIP), is expected to pick up in March, led by growth in sectors such as manufacturing and mining, a poll by CNBC-TV18 showed.

Analysts, on average, expect March IIP at 1.82 percent, compared to 0.1 percent in February.

Manufacturing, mining, electricity — which constitutes the core sector and accounts for 40 percent of the IIP — was seen growing at 4.7 percent as compared to 2.2 percent in February.

The mining sector growth was supported by increased coal production, which rose 9.1 percent on a yearly basis. Likewise, the manufacturing sector performed well in March. The refinery sector was up 4.3 percent on a yearly basis but declined 0.7 percent from February.

The  Nikkei manufacturing PMI moderated to 52.6 in March 2019 and 51.8 in April. Meanwhile, the domestic car sales in March were down 6.87 percent and commercial vehicle sales were down 4.97 percent.
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