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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia Industrial Production YoY fell to 6.7% in July 2026
FMPMonthlyReleased August 2026
India Industrial Production YoY fell to 6.7% in July 2026, released August 2026, down 2.1% from June's 8.8% reading. The print exceeded the 6.0% consensus by 0.7%. The print is running well above the 12-month average of 5.01%. Over the past 3 months, Industrial Production YoY averaged 5.42%, vs 4.7% in the prior 3-month window. The reading is in the 89th percentile of the trailing 24-month range.
Latest Release
6.7
Actual
6
Consensus
8.8
Previous
Median Absolute Error
±1.27 percentage points
across last 12 releases
Last Call
Aug 2026
Predicted: 6.5
Actual: 6.7
Error: -0.2
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.31 | COMMODITIES | Moves with | → View |
| NIFTY 50 | ▲ Direct | +0.31 | INDEX | Moves with | → View |
| BTC/USD | ▼ Inverse | −0.30 | CRYPTO | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Industrial Production YoY (India) was reported at 6.7% in August 2026. This beat the market consensus of 6% by 0.7%. The reading fell from the previous value of 8.8%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 5.17%, ranging from 0.4% to 7.8% across 11 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 6.37%, up from the prior three at 4.97%. Volatility over the past year (σ 1.95%) is higher than the prior year (σ 1.43%). In August readings over the past 3 years, Industrial Production YoY has averaged 4.8%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). A secondary relationship exists with NIFTY 50, positively correlated (Bullish NIFTY 50). Over the last 12 releases, the Sigmacast model's median absolute error is 1.28%.
WHAT TO WATCH NEXT
The next release is scheduled for September 28, 2026. Same-country events in the next 14 days include Balance of Trade (Sep 15) and HSBC Manufacturing PMI (Sep 23).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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Industrial Production YoY - IN
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About Industrial Production YoY — India
DEFINITION
Industrial Production YoY (Year-over-Year) is a key economic indicator that measures the change in the total output of the manufacturing, mining, and utilities sectors over a 12-month period. It provides valuable insights into the health and growth of a country's industrial sector, which is a crucial component of its overall economic performance. This indicator is closely monitored by investors, policymakers, and analysts as it can signal potential shifts in the economy and help inform business and investment decisions. A positive YoY growth in industrial production indicates a strong and expanding industrial sector, while a negative growth may suggest a slowdown or contraction.
WHY THIS INDICATOR MATTERS
Manufacturing and factory-order series capture cyclical inflection earlier than aggregate output, and have outsized influence on industrial-sector equities. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual 6.7 %, consensus 6 %. Prior reading (Jun 2026): 7.3 %. Before that (May 2026): 5.1 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
Σ
EXPECTED ZONE
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Economic Calendar - IN Events
| Monday, September 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:30 | IN | WPI Manufacturing YoY | 8.37 | 8.29 | 8.5 | 9.11 | Low |
| 06:30 | IN | WPI Inflation YoY | 9.92 | 9.78 | 9.89 | 10.04 | Low |
| 06:30 | IN | WPI Food Index YoY | 7.05 | 6.65 | 6.7 | 7.38 | Low |
| 06:30 | IN | WPI Fuel YoY | 22.93 | 20.05 | 15 | 18.31 | Low |
| 10:30 | IN | Inflation Rate MoM | 0.73 | 0.88 | 0.6 | 0.67 | Low |
| 10:30 | IN | Inflation Rate YoY | 4.82 | 4.44 | 4.8 | 4.81 | Medium |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | IN | Balance of Trade | -31.98 | -33 | -33.61 | Medium | |
| 10:30 | IN | Unemployment Rate | 5.1 | 5.2 | 5.30 | Low | |