October capital goods output down for ninth month
It may be hard to square data with the revival being forecast, but economic soothsayers may well be right when they predict 5.8% growth for Q2, 6.4% for Q3 and 7.2% for Q4, T N Ninan explains why
The IIP for construction goods contracted 6.4% in September, fastest since 2012
India's industrial production contracted sharply by 4.3 per cent Y-o-Y in September against the 2.5 per cent consensus. August's contraction was revised down to 1.4 per cent from 1.1 per cent.
The data released on Monday shows that the Index of Industrial Production (IIP) fell by the highest margin since October 2011
September saw the slowdown in the manufacturing sector - which accounts for 78 per cent of the index
According to the latest CSO data, IIP contraction in August has been further revised downwards to 1.4 per cent from the provisional 1.1 per cent decline estimated last month
Latest data suggests no respite from bad news
IEX is the biggest player in spot energy trading with a share of 97 per cent, and with participation of over 6,500 players
The Index of Industrial Production (IIP) is now expected to remain muted this fiscal year
The manufacturing segment constitutes the bulk of the IIP at 77.6%
Industrial production growth declined to 2 per cent in June, mainly on account of poor show by mining and manufacturing sectors.
Experts partially attribute slowdown to cut in spend during elections
Growth may remain muted on weak exports, rural distress, credit constraints
Of 23 sub-sectors within manufacturing, 13 recorded a year-on-year contraction, as compared to two in September
Economists suggest that current rates sustaining over the next 2-3 quarters, will lead to the 5-6 per cent mark for the year, which will be a significant recovery
Non-oil, non-gold imports rose 22.6% in Oct