Crude oil production contracted 2.4 per cent in January, the pace which is the highest in six months
Both these numbers--the second advance estimates for 2021-22 and the actual GDP growth for Q3 of the year--are slated to be released on February 28
Manufacturing output contracted 0.1% while mining and electricity grew at 2.6% and 2.8%, respectively
A year-on-year analysis is useful in a conceptual way as it accounts for the seasonal impact on the data, but it tells you next to nothing about the current state of the economy.
Rising pricing pressure in clothing and footwear (8.3%) and fuel group (10.95%) contributed to the rise in retail inflation while food prices rose to 4.05%
The BSE Midcap and Smallcap indices gained 1 per cent and 0.7 per cent, respectively. Telecom stocks logged smart gains after telcos pitched for 90-95 per cent cut in 5G spectrum auction prices
There are other metrics too, such as e-way bills, mobility measures and power generation, all of which are used to support the national accounts figures, not replace them
The index had risen 4.5 per cent in October last year against 1 per cent in the previous month
The 3.1 per cent YoY growth was driven by a jump in mining and manufacturing activity
Industrial production growth slips to 3.1 per cent in September, mainly due to the waning low base effect while mining and manufacturing sectors performed well
Core sector rose 16.6 per cent in the first half of the current financial year against a contraction of 14.5 per cent in the corresponding period of the previous year
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However, most segments are back to pre-pandemic levels, offering a ray of hope
Food inflation fell substantially to 3.96 per cent in July from 5.15 per cent in June
Inflation based on Consumer Price Index (CPI) remained elevated due to soaring fuel prices and costlier items in the food basket
IIP for the mining, manufacturing and electricity sectors for April stood at 108, 125.1 and 174, respectively
Higher international prices will increase policy risks
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Most experts say the numbers are worrisome and can dent the economic recovery going ahead. Here's how economists at leading brokerages and research houses have interpreted the numbers
Updates on COVID-19 situation and related news will also remain on participants' radars, says an analyst