Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / News/  IIP: More pain in the offing
BackBack

IIP: More pain in the offing

IIP: More pain in the offing

Premium


Mumbai/New Delhi: The Index of Industrial Production number for January is due Friday. Of course, investors these days somewhat disregard this number due to questions of its accuracy. Still, it does give a sense of what is happening in manufacturing.

There are no great expectations this time. Five economists survey by TalkMarkets put it at 3-4%. The most common reason advanced for the slow rate of growth is the base effect. Last January, growth was a solid 16.8%.

Yet, the dip in worrying. A look at the three monthly moving averages reveals a steady decline in this number. Remember the macroeconomic situation is somewhat worsened. Surging crude prices is threatening to pause the growth cycle and companies are worried about rising cost of funds and input costs. No wonder, one after the other, economists are lowering their GDP growth forecasts for fiscal 2012.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 10 Mar 2011, 08:24 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App