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Monday, 14 December 2015


IIP reported blockbuster numbers of 9.8% for the month of October 2015. Though so much has been written about the low base or negative base effect of (2.74%), it still holds well with respect to quantum of growth which is the highest in last five years. The negative growth last October 2014 is attributed to Diwali shutdowns & holidays in addition to poor form of the economy resulting in almost double digit growth in October 2015. Important sectors indicating economic activity such as manufacturing, electricity and mining rose 10.6%, 9% and 4.7% respectively YOY. The October IIP data has been complemented with WPI at a lower negative range of (2%) for November compared to the previous month for the third consecutive time this year signifying diminishing deflation.  Last but not the least, CPI came at 5.4% still within RBI target band. These numbers show that our economy is regimented and of course resilient. Do we still need to worry what Madam Yellen is thinking right now?

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