India’s IIP Contracted To A Six-Month Low Of 3.6% In February: CARE Ratings
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CARE Ratings Research Report
Industrial production contracted to a six-month low of 3.6% in February 2021, though better than our estimate of 5.7% during the month.
The steep decline in industrial production has been broad-based and has come on the back of a high base effect (growth of 5.2% in February 2020).
After recording marginal uptick in September and October 2020, the de-growth in industrial production continues for the fourth consecutive month.
There has been an upward revision in the IIP growth of November 2020 to down 1.6% (earlier: down 2.1%) and January 2021 to down 0.9% (earlier estimate: down 1.6%).
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