Manufacturing Production y/y shows the change in the value of goods produced in the manufacturing sector of the Indian industry in the given month compared to the same month a year ago. Manufacturing production volumes are calculated using the GVA (Gross Value Added) at basic current prices.
Manufacturing is one of the target areas of the Indian economy. The government launched the "Make In India" initiative to increase output and the share of manufacturing in the national GDP. Main production activities in manufacturing include automobile production, pharmaceuticals and chemical production, food production, electronics, textile production, etc. The index is calculated over the seasonally adjusted data series.
The calculation takes into account the inflation by applying a deflator based on the Producer Price Index. This index is used because it measures the actual prices of manufactured goods at the output level. This allows measuring the net turnover of manufacturers excluding retail margins.
It is one of the short-term indicators of the national economy development. It is used in the calculation of India's GDP. Manufacturing production growth serves as a leading indicator of consumer activity and retail sales growth. In addition, this industry is a source of employment. Therefore, the index growth may have a positive effect on the Indian rupee quotes.
The chart of the entire available history of the "India Manufacturing Production y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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