Industrial Production Scaled Beyond Pre-Pandemic Levels In August: CARE Ratings
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CARE Ratings Research Report
Industrial production grew by 11.9% in August 2021, slightly higher than 11.5% YoY growth in July 2021.
The double-digit annualised growth during the month is on expected lines due to favourable base support of last year (our forecast was at 11.5% for August-21).
Reversing the trend of previous two months, sequential momentum in index of industrial production receded by 0.2% month-on-month in August-21.
A comparison with 2019 numbers suggests that industrial activities have reached the pre-pandemic levels with IIP growth higher by 3.9% in August-21.
This is reflective of a gradual pick-up in industrial activities with easing of restrictions across key states.
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