India’s IIP Contracts 1.9% in November 2020 As Against 4.2% Growth In October: Care Ratings
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Care Ratings Report
After a successive improvement in the previous seven months, the industrial production based on Index of Industrial Production fell to a three month low registering a contraction by 1.9% in November 2020 as against the 4.2% growth in October 2020 and 1.8% growth in the same month of last year.
This is in line with the contraction witnessed in eight core sectors in November 2020 by 2.6%, which has nearly 40% weightage in the IIP.
This was against our expectation of 1.5% growth for the month.
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