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Below is perspective on October IIP Data By Mr. Nish Bhatt, Founder & CEO, Millwood Kane International

“ The October industrial production has slowed down on MoM & YoY basis, despite other indicators showing a recovery. The October IIP at 3.2% is below most estimates. The growth in IIP has been erratic and it slowing down despite October being a festive season month. This puts some doubts about the economic recovery that is underway.

Most constituents have shown degrowth like electricity, manufacturing, infra goods, consumer durables, consumer non-durables with mining and primary goods the only exception. The chip shortage has been a cause of concern for the smooth functioning of industrial activities across the globe. The auto sector has seen the most disruption. The H1 IIP at 20% is largely a factor of a lower base. The industrial data need to clock in regular double-digit growth for sustained overall economic growth.”

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