Market Quote : India`s domestic industrial production and manufacturing PMI exceeded expectations Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 13 December 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"India's domestic industrial production and manufacturing PMI exceeded expectations, a clear reflection of the continuation of economic growth in H2FY24. However, a simultaneous challenge emerges as retail inflation stands at 5.5%, still much above the RBI's 4% target. This inflationary pressure, driven by high food inflation and the looming spectre of El Niño, is poised to persist. The market's focus now shifts to the upcoming FOMC meeting. And the recent global upside is getting far stretched in anticipation of a rapid fall in US Fed rate in CY2024."
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