#AgeComment: "There is some cheer, however feeble, over the - TopicsExpress

#AgeComment: "There is some cheer, however feeble, over the figures for industrial production coming in higher at 2.6 per cent when everyone was expecting it to be a negative 0.8 per cent. This comes soon after the decrease in the current account deficit (CAD). While these are welcome developments, the quality of the rise in industrial production figures show the weakness behind the growth numbers. While the manufacturing sector, which is the backbone of the economy and employment, has shown a spurt in growth, it is the 336 per cent year-on-year (y-o-y) annual growth of the “cable, rubber insulated” segment that added weight to the sector, which in turn saw capital goods spurt to 15.6 per cent. If this is removed, the actual growth would have been just 0.9 per cent y-o-y."

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