Scent of optimism in October factory output

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Updated: December 17, 2019 6:02:39 AM

India’s factory output fell 3.8% y-o-y in October, lower than expected, boosted by a 12-fold rise in fragrances and oil essentials which have a weight of 0.2% in the IIP.

India’s factory output fell 3.8% y-o-y in October

India’s factory output fell 3.8% y-o-y in October, lower than expected, boosted by a 12-fold rise in fragrances and oil essentials which have a weight of 0.2% in the IIP.

Analysts at Jefferies point out that stripping this and mild steel slabs, data for which is distorted, output for the other 99% contracted a steep 8.8% y-o-y.

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