Green shoots: October IIP soars to 8.2% on manufacturing rebound
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So far this fiscal, the IIP had shown growth only in May (at 2.5 per cent) and August (at 2.3 per cent). For the April-October period, the IIP was at 1.2 per cent as against 3.6 per cent in the same period last fiscal.
Experts, though, termed it as a surprise, were cautious to interpret the numbers given the volatility in the IIP data, especially in the capital goods sector. Further, they maintained that it is too early to call it a recovery though they expressed hope that the second half would fare much better due to the base effect.
"The jump was not entirely unexpected. The market was already anticipating a growth rate of 4.5-5 per cent in October propped up by a favourable base... That said, while the October jump was perhaps already in the price, its magnitude was not," Abheek Barua, chief economist, HDFC bank, said.
Retail inflation rises 9.90% in Nov
Rising for the second consecutive month, retail inflation surged 9.90 per cent in November driven mainly by rising prices of food items like sugar, vegetables, edible oil and clothing. Data released on Wednesday show that the rate of price rise in rural areas was more than that in urban areas. While in urban areas, retail inflation rose to 9.69 per cent during the month, the Consumer Price Index (CPI) stood at 9.97 per cent in rural areas. The retail inflation was 9.75 per cent in October. ENS
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