In a positive development, India's industrial growth for the month of November came in at 3.8% versus -4.2% for October, supported by favorable base effect and a pick-up in manufacturing, higher working days on a month-on-month basis. Notably, the figure is way higher than a street's expected figure of ‘2%’. The cumulative growth for the period April-November 2014-15 over the corresponding period of the previous year stands at 2.2%.
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2014 stood at 127.9, 177.00 and 174.3 respectively, with the corresponding growth rates of 3.4%, 3.0% and 10.0% as compared to November 2014. The cumulative growth in the three sectors during April-November 2014-15 over the corresponding period of 2013-14 has been 2.5%, 1.1% and 10.7% respectively.