Industrial output unexpectedly declined by 4.2% in October while retail inflation slowed to a record low of 4.4% in November. Industrial output had recorded its sharpest contraction in three years.
Manufacturing contracted by 7.6%, capital goods declined by 2.3% and consumer goods by 18.6%. Economists said there could be an aberration in the October data. The surprise element was that October is a festival month and demand rises during this period. However, the CSO's numbers displayed a different trend.
No comments:
Post a Comment