Nov IIP growth surges to 25-month high of 6.7%

EXPANSION MAY EASE IN DECEMBER, SAY ANALYSTS

- KULDEEP SINGH

THE GROWTH IN the Index of Industrial Production (IIP) accelerated to a 25-month high of 6.7% in November, driven by an 8% jump in manufacturing, strong consumption demand, and a turnaround in the mining industry.

Companies stepped up manufacturing to cater to the rising demand during the festive season, and as a result, the consumer goods segment grew 8.5% on year in the month.

IIP had grown at a dismal, 14-month low pace of 0.5% in October. The November growth in the index was on a relatively strong base (5%).