[ad_1]
BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
The Index of Industrial Production reverted to a stronger-than-anticipated YoY growth of 7.1% in November 2022 (our expectation: up 3.5%), as compared to the contraction of 4.2% in October 2022, led by a reversal of the base effect related to an early festive season.
Given this, the print should be interpreted with caution; average growth in the IIP remained muted during October-November 2022, at 1.3% YoY, lower than 1.7% seen in Q2 FY23.
Fewer holidays in November 2022, relative to 2021 led to a broad-based improvement across all the sub-sectors as well as use-based categories in November 2022, vis-a-vis October 2022.
Relative to the pre-Covid levels of 2019, the IIP reported a 6.4% rise in November 2022, in spite of consumer durables (down 4.0%) trailing the pre-Covid volumes.
However, the YoY growth of most available high frequency indicators has moderated in December 2022 relative to November 2022, partly reflecting an unfavorable base related to the post-festive season rebound seen in December 2021.
Inline with this, we expect the overall IIP growth to ease to low single digits in December 2022.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
[ad_2]
Image and article originally from www.bqprime.com. Read the original article here.