The Index of Industrial Production has showed a miserably low growth of 1.81% since last year. But I don’t trust this data so we can’t read too much into the headline numbers. In fact, much of the last month’s data has been revised to levels that make any analysis worthless.
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and the Use Based Indexes:
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Nearly all areas are declining, with mining down nearly 6%. The Consumer durables and non-durables areas are still very icky, though the key thing here is October with it’s Diwali effect.
A weak report, no doubt, even though I’d take the data with a pinch of salt.
