Factory output contracts by 0.6% in December, misses estimates
By Ira Dugal | Published On: February 12, 2013 11:00 (IST) | Duration: 17 min, 56 sec
India's index of industrial production (IIP) contracted by 0.6 per cent in December 2012, much lower than analyst expectations of a 1.2 per cent growth. According to Shubhada Rao, chief economist at YES bank, the December numbers seem worse sequentially. IIP contracted 0.1 per cent in November after rising 8.2 per cent in October.