|
|
|
September IIP expected to decelerate
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 08 Nov, 2021
The base affect which was giving good industrial production numbers for
past few months is expected lose its sheen with September index of
industrial production decelerating in YoY terms to 4.2 per cent in
September from 11.9 per cent YoY in August, a Morgan Stanley research
weekly research report said on Monday.
As per the report, the
deceleration in September IIP numbers would largely be on account of
normalisation of base effect. The disruptions caused by Covid pandemic
has pushed down IIP numbers sharply last year.
The IIP numbers for September along with CPI inflation numbers are expected to be announced on November 12.
Morgan
Stanley said though IIP for September may be impacted due to base
effect, on a two-year CAGR basis (to adjust for base), it expects it to
accelerate to 2.5 per cent in September from 1.9 per cent in August.
"On
a sequential basis we expect the index to weaken reflecting supply-side
issues, which led to weaker electricity generation and chip shortages
weighing on passenger vehicle sales, also reflected in the trend in core
sector data (40 per cent of IP) which declined by 5 per cent MoM in
September, said Morgan Stanley.
With regard to CPI inflation, it
said that headline CPI to remain steady at 4.3 per cent YoY in October
(same as September) as food inflation moderates on a YoY basis (led by
base effect) while non-food inflation is expected to rise.
However,
on a sequential basis, the expectation is that the index to rise led by
higher vegetable, oil/fat and cereal prices and higher fuel inflation.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|