The numbers paint a dismal picture of the economy and dash any hopes of a revival anytime soon. Both the core sector and the index of industrial production have contracted consecutively for both August and September. A more granular view of the index will reveal the real cause of worry which could spill over to GDP numbers due on November 29.The massive slump seen in the industrial output was on account of the manufacturing growth nosediving for the month of September. According to the Nomura report, these are significant growth headwinds and could delay the pace of recovery.With manufacturing collapsing, the fallout could be captured in the coming GDP numbers. But right now, the state of the economy can only be called dismal.

Source: Economic Times November 13, 2019 10:03 UTC