The gross value added numbers for industry and the Index of Industrial Production paint very different pictures of the industrial economy. True, the GDP numbers show value added, while the Index of Industrial Production (IIP) numbers measure volume. Chart 5: This chart shows the expectations for industrial production. Industrial production fell 0.8% in April, while manufacturing contracted by 3.1% compared to the previous year. Chart 4: This chart shows that animal spirits in the industry are at their lowest since at least 2010-11.

Source: Mint June 12, 2016 20:03 UTC