Anand Rathi: India’s IIP Surprises Positively In October; Unlikely To Continue Though
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Anand Rathi Report
Buoyed by pent-up demand and festival sales, industrial growth during October 2020, at 3.6%, ran ahead of expectations, but is unlikely to continue. We do not expect any change in monetary or fiscal measures.
Electricity generation grew a sharp 11.2%; and manufacturing, 3.5%. Mining, however, recorded a 1.5% contraction.
Of the use-based categories, durables clocked the fastest growth, 17.6%.
Capital goods also recorded positive growth (3.3%), the first in 22 months. Only primary goods contracted during Oct-20.
Intermediate goods registered subdued growth during the month.
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