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January IIP at 3.7 pc vs 1.6 pc in December

News18

Updated: March 11, 2011, 11:19 AM IST
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January IIP at 3.7 pc vs 1.6 pc in December
Starting from December itself, India has been struggling with a very high base which itself is bound to keep numbers a little lower. IIP had hit 20-month low of 1.6 per cent in December 2010.

Mumbai: The Index for Industrial Production (IIP) is at 3.7 per cent for January, much higher than street estimates. According to a CNBC-TV18 poll, industrial output was estimated to be at 2.7 per cent (YoY).

Starting from December itself, India has been struggling with a very high base which itself is bound to keep numbers a little lower. IIP had hit 20-month low of 1.6 per cent in December 2010.

Food and fuel inflation eased in late-February, but remained at elevated levels, maintaining the case for further monetary tightening to keep a lid on headline inflation.

India's food price index rose an annual 9.52 per cent in the week to February 26, slower than a 10.39 per cent rise in the previous week as prices of vegetables, potatoes and rice declined, data showed on Thursday.

The HSBC Markit Purchasing Managers' Index, an indicator of manufacturing expansion, rose to a three-month high of 57.9 in February from 56.8 in January.

That was the 23rd consecutive month the key index of manufacturing in Asia's third-largest economy has been above the 50 mark, that divides growth from contraction.

The manufacturing sector grew 5.6 per cent in October-December from a year earlier, government data released on February 28 showed. India's exports in January rose an annual 32.4 per cent to USD 20.6 billion, government data released last week showed.

First Published: March 11, 2011, 11:19 AM IST
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