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IIP rebound in a mixed scenario

Posted by fairval on October 13, 2009

IIP has shown a sharp rebound, much more than market expectations. Given that exports are still falling (data is till Aug09), it is indeed not quite clear where this is comign from. Most likely it is companies had started stocking up for the Diwali season.
Demand situation is mixed. Auto sales appear to have rebounded. Homes, durables, clothing etc are perhaps still not selling that well.
Though going forward, strength for IIP will also come from export rebound. Exports started falling from Oct08. So once we cross Oct, yoy affect may help show growth in IIP.

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