Key macroeconomic
data including GDP and IIP numbers will now be released after market hours, in
an apparent bid by the Government to prevent any knee-jerk reaction to such
information.
According to a statement available on the Ministry of Statistics
and Programme Implementation website, Gross Domestic Product (GDP), Consumer
Price Index (CPI) and Index of Industrial Production (IIP) will now be released
at 5.30 PM in the evening.
A source said the government has taken this decision in view of
deteriorating markets and depreciating rupee.
Financial markets have in the past reacted sharply to release of
IIP, GDP and CPI numbers at the scheduled time of around 1100 hours.Starting
this Friday, the two key data indicating health of the economy, i.E.
IIP measuring factory output and CPI reflecting price rise on
retail level, will be released in the evening.
The factory output growth has slipped to 2 per cent in April on
account of dismal performance of manufacturing, mining and power sectors
coupled with lower output of capital goods as the official data released last
month on June 12.
Falling for the third straight month, CPI or retail inflation
stood at 9.31 per cent in May due to easing of prices of edible oil and
protein-based items.
0 comments:
Post a Comment