 "Finding stocks with an upside will be difficult")
The Index of Industrial production or IIP for February 2017 was down 1.2 per cent year-on-year compared to February 2016. The slowdown surprised because the professional forecasters’ consensus was for modest growth. As many as 15 out of 22 industry groups had negative growth year-on-year.
In terms of usage classification, basic goods was up 2.4 per cent but capital goods was down 3.4 per cent, consumer goods was down 5.6 per cent and intermediate goods down 0.2 per cent. The sub-sector, non-durable consumer goods was down by 8.6 per cent. In terms of groups, manufacturing was down two per cent
