Rising capacity utilisation does not square up with slowing economy

As the election season nears its end and the poll rhetoric reaches a crescendo, the economy is looking down with a cacophony of bleak-looking indicators in the background. 

While the news of consumption slowdown is not news anymore, a deeper look into high frequency economic indicators gives a glimpse of its gravity.

In at least three segments of the economy — consumer durables such as refrigerators and air conditioners (white goods), consumer non-durables such as toothpastes and soaps (consumer goods) and primary goods, such as ores and minerals, fuel and electricity — production and consumption are looking down simultaneously in Q4 FY19.