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    IIP numbers today: November industrial growth seen falling to 3.84%

    economy | IST

    IIP numbers today: November industrial growth seen falling to 3.84%

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    Index of industrial production (IIP) numbers for November will be releasing later this evening. Here are key expectations.

    India's industrial growth is likely to have slipped to 3.84 percent in November from an 11-month high of 8.1 percent in October, according to a poll of economists by CNBC-TV18.
    The Central Statistics Office will detail industrial production data for November at 1730 IST on Friday. Here are the key expectations:
    • With regards to the IIP data this time around, it is expected to probably be a little bit of a slowdown from what was seen in the previous quarter. It is expected to come in at around 3.84 percent versus 8.1 percent on a month-on-month (MoM) basis and the range is anywhere between 3 percent and 5.5 percent.
      • The October reading had in fact benefited from the low base and the November reading will probably witness an adverse impact of a higher base. This was also because of the late festive season that was seen in 2018.
        • Nikkei manufacturing PMI continued to be strong, in November it was at 54 versus 53.1 on a MoM basis.
          • Core sector, which is around 38-40 percent of the IIP, also indicated some signs of weakness. So that came in at around 3.5 percent for the month of November versus 4.7 percent on a year-on-year (YoY) basis.
            • Overall, it is expected to probably be a little bit of a soft IIP number on a MoM basis.
            •  
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