Care Ratings: India’s IIP Rebounds To Eight-Month High In October
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Care Ratings Research Report
In October 2020, the industrial production based on Index of Industrial Production rebounded to an eight-month high and grew by 3.6% YoY as against a contraction by 6.6% in the corresponding month of last year and the 0.2% growth in September 2020.
The industrial output grew despite contraction in eight core sectors by 2.5% in October 2020, which has nearly 40% weightage in IIP and was also against our expectations of a fall by 1.2% in October 2020.
The growth during the month has been supported by favorable base effect which resulted in significant growth registered by the manufacturing and electricity segment.
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