The IIP has just come in , manufacturing reporting just 1.8% growth in December, 9 month IIP composite managing a low 3.6% against a 7.2% par for the course and the Sensex and nifty looking like they are about to change direction.
Non durable and Durable goods maintained high growth at just less than 14% in staples ( non durables) and Durables a low 5.3%, electricity down to 9.1% from its 14% and basic goods also under the weather at 4% vs 6.3%.
December Inflation had come in at 7.47% after a 9.11% November but imported inflation is likely to make a cmeback by next month's report. the january WPI report is due over the weekend
The Capital Goods sub unit jump comes from 2012 April where the recovery in Infrastructure spend is concerned. The mining sub index fell at -3.7% (yoy) while Capital goods showed base expansion to a 16.5% contraction in December ( else as expense not committed a/ accounted, as is wont with the serie)
