May IIP - Second Wave Flattened IIP Growth To 29.3%: ICRA

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICRA Research Report.The second wave of Covid-19 in India, in conjunction with a less distorted base, flattened the year-on-year growth of the Index of Industrial Production to 29.3% in May 2021 (down 33.4% in May 2020) from the revised 134.6% in April 2021 (down 57.3% in April 2020). However, the pace of growth exceeded our forecast of 23.2%. With the widening state-wise restrictions, the IIP recorded a decline of 8.0% in month-on-month terms in May 2021. The sequential dip in activity was broad-based across the use-based categories, as well as two of the three sectors, namely manufacturing (down 9.5%) and electricity (down 7.0%). Only mining escaped the impact of the localised restrictions brought on by the second wave of Covid-19, with a mild month-on-month uptick of 0.6% in May 2021..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

May IIP - Second Wave Flattened IIP Growth To 29.3%: ICRA

May IIP - Second Wave Flattened IIP Growth To 29.3%: ICRA

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