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October IIP data to be released today: Here's what to expect

Updated : December 12, 2019 08:57 AM IST

Index of industrial production (IIP) data for October will be released on Thursday.

Here are the key expectations:

The IIP data is expected to be a decline of -5.4 percent versus -4.3 percent on the month-on-month (MoM) basis.

Core industries, which accounts for 40 percent of the IIP, declined 5.8 percent in October. Coal production was down 17.5 percent within manufacturing, refinery was marginally higher, but cement declined 7.7 percent.

Other high frequency indicators are also weak. Motor vehicle production was down 26 percent and total passenger vehicle sales saw a marginal improvement of around 0.28 percent in the month of October on a year-on-year (YoY) basis.

Overall, the high frequency indicators point that October is going to continue seeing a decline and a sharper decline than September.
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