Economy

India's Industrial Production Hits 16-Month High Of 11.7 Per Cent In October; Retail Inflation Jumps To 5.55 Per Cent In November

Nayan DwivediDec 13, 2023, 10:25 AM | Updated Dec 14, 2023, 05:08 PM IST
India's industrial production soars to a 16-month high.

India's industrial production soars to a 16-month high.


India's industrial production soared to a 16-month high in October, recording an impressive 11.7 per cent year-on-year growth in the Index of Industrial Production (IIP).

The surge, attributed to a favourable base effect, contributes to the positive outlook for the first advance estimates of the 2023-24 gross domestic product (GDP) data, set to be released on 5 January, reported Business Standard.

In contrast, November witnessed a deviation in the downward trend of retail inflation, as the Consumer Price Index (CPI) rose to a three-month high of 5.55 per cent year-on-year.

The increase was driven partly by a seasonal spike in vegetable prices.


The recent IIP figures align with this optimistic outlook.

While the rebound in industrial production indicates sustained economic momentum, experts caution against signs of a potential slowdown.

Factors such as the RBI's consumer confidence survey signalling weakened future expectations and measures to control risky lending may impact credit growth and domestic demand.

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