IIP: Take the buoyancy in capital goods with a dose of salt
Capital goods output surged from -8.5% in March to 2.5% in April
The outlook on industrial production growth is subdued globally and India is unlikely to be an outlier
India’s industrial output bounced back to 3.4% in April from 0.4% in March. The improvement in headline index of industrial production (IIP) data was largely led by capital goods. Growth in this component surged from -8.5% in March to 2.5% in April.
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