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India’s manufacturing activity boosts in November

in International Business

India’s manufacturing activity boosts in November

India’s industrial output rose 8.2% from a year earlier, while the analysts had predicted a rise of 4.5%.

The jump in the figures is linked to the holiday season of Diwali, which is traditionally associated with a surge in consumer demand in India, celebrated in November.

Analysts, however, said that the data does not indicate recovery in India’s economy, as the data is helped by a low base.

“It’s a positive surprise, but bear in mind the jump is distorted by last year’s low base, and this is going to reverse in November,” said Rajeev Malik, a senior economist with CLSA.

 



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