The central government announced the IIP (index of industrial production) data for May 2024 on July 12. The IIP growth rate came at 5.9% for the period under review.

• According to a CNBC-TV18 poll, the index was expected to come at 4.6%, against an increase of 5% in April.
• The Index of Industrial Production or IIP is used to measure manufacturing activity in different sectors of an economy.
• IIP measures the amount of industrial production for the period under review — May, in this case — compared to a reference period. This macroeconomic data shows the state of various important economic sectors.