This is the fifth consecutive month of contraction in IIP. On the brighter side, the data does show a sequential recovery in industrial activity over the previous months. Usage-based categories include primary goods, intermediate goods, capital goods, infrastructure goods and consumer goods. The July IIP numbers suggest that the ongoing sequential recovery might be losing momentum as the curve is straying from a V-shaped pattern. “The data also shows that the sharp recovery witnessed in the month of May and June is now becoming somewhat flattish.

Source: Hindustan Times September 11, 2020 21:28 UTC