Day 2
Reports & IndicesSkim2024-11-12
MoSPI Releases September 2024 IIP Data
What Happened
In November 2024, the Ministry of Statistics and Programme Implementation (MoSPI) released the Index of Industrial Production (IIP) data for September 2024. The index rebounded with a 3.1% growth rate, recovering from a slight contraction in August. This positive trajectory was primarily driven by the manufacturing sector, specifically intermediate goods and consumer durables.
Why It Matters
The IIP is a crucial macroeconomic indicator for tracking industrial performance. This rebound signals recovering industrial momentum and improving domestic demand, which are vital for broader economic growth.
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