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IIP distorted due to large number of holidays, says Ananth Narayan

Updated : January 14, 2019 09:43 AM IST

Reacting to the industrial output growth dropping to a 17-month low of 0.5 percent in November, Ananth Narayan, money market expert and professor at SP Jain institute, said "it’s (IIP) distorted because of large number of holidays and less working days in November 2018".

He said that the numbers were normalised for two months and added that the index of industrial production (IIP) figures made much more sense.

According to him, a mixed sets of data is coming out of the capital goods side. "Capital goods probably not as good as some data is indicating," he said.

On money market front, he is seeing some worries for the bond market for the medium-term. Narayan further said that the concerns around the bond market include fiscal side woes.
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