India IIP - Robust Growth Continues In August: Anand Rathi
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Anand Rathi Report
India recorded 11.9% industrial growth in August 2021, in line with the consensus expectation.
The slow opening up since mid-May 2020, post the national lockdown, created a subdued base. The peaking of the second wave in early May 2021 also helped improve sequential growth.
In Aug-20, capital goods contracted 14.4% and rebounded 19.9%, in Aug-21.
Despite being low, unlike the prior month, staples grew 5.2% in Aug-21. All categories grew in Aug-21 though durables decelerated sharply.
In Aug-21, the trend of industrial growth across G-20 countries was mixed, with several recording deceleration.
Barring the countries which have been faced with a prolonged recession in recent years (Argentina, Turkey), India’s industrial growth was the best.
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