IPFS News Link • Economy - International
Another Scary Collapse Chart Out Of India
• Mamta Badkar businessinsider.comIndian industrial production grew just 0.1 percent year-over-year (YoY) in April, and manufacturing which accounts for 75 percent of the industrial output index also grew just 0.1 percent.
The poor IP number was led by a 16.3 percent YoY decline in capital goods, but on the positive side consumer sector growth rebounded 5.2 percent YoY.
HDFC Securities' analysts Sameer Narang and Vishal Modi write, "with poor external and domestic demand and high interest rates, we believe manufacturing growth is likely to remain soft. However, 25% YoY currency depreciation will help in growing exports and import substitution."
Now here's a chart that shows the sharp decline in industrial production:
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