The Index of Industrial Production was revised up for December to 0.07% growth, from a contraction of 0.3% in the provisional estimate
PSUs seen as drivers of credit demand, which the bank sees growing by 5-7%; No major impact of coronavirus yet
Industrial production and retail inflation data is due on Wednesday, while WPI inflation numbers will be released on Friday.
However, the month-on-month dip of 3.8 per cent in UP industrial index is also a recovery of sorts considering it fell sharply by 9.6 per cent in the preceding month of October 2019
The factory output declined by 4.3% in September and 1.4% in August this year, while it grew at 4.9% in July
On one hand, growth is slowing down, while on the other, inflation is inching up
The Index of Industrial Production (IIP) had expanded by 4.8 per cent in August 2018.
June growth rate falls to 0.2%, from 4.3 % in May, as refinery, steel and cement production weakens
Of 23 sub-sectors within manufacturing, only two recorded a year-on-year contraction, down from seven in September
IIP had grown at more than 7 per cent for the third straight month till January