India’s industrial output grew 1.8 percent in November 2019 against a contraction of 3.8 percent in October 2019, as per data on the Index of Industrial Production (IIP) released by the government on January 10.Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country’s business landscape.Close Positive IIP numbers have certainly given some relief at a time when the economy is struggling. Experts point out that the IIP numbers have come in positive for the first time in the past four months as production activity in cement and fertilisers picked up. related news We recommend buying Infosys at current levels & on dips for the long term Economy in bad shape, ‘tax terrorism’ should be curbed: Subramanian Swamy “It is a good sign for the economy as IIP turns positive after three months of contraction. From the consumption point of view, it is welcoming that consumer non-durables have turned positive. However, consumer durables are still in the negative territory, contracting for the past six months,” said Deepthi Mathew, Economist, Geojit Financial Services.Items which contributed positively to headline IIP growth included electric heaters, steel pipes and tubes, MS slabs, etc. On the other hand, items… Read full this story
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IIP back to positive, but does it herald a turnaround in the economy? have 304 words, post on www.moneycontrol.com at January 11, 2020. This is cached page on GameMaz. If you want remove this page, please contact us.