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Industrial production does not spell good news
Latest industrial production data shows that capital goods, infrastructure/construction goods and consumer durables output contracted from a year ago. The index for capital goods was 102.4 in June 2019, just a bit higher than the level of 101.9 it was at as far back as June 2012. That’s a compound annual growth rate of a piffling 0.07 percent in the last seven years. Why is it that in spite of all these years of consistent GDP growth, including 8 percent plus growth in FY16 and FY17, investment demand is still non-existent? Or could it be that GDP growth is not really what it is cracked up to be? Click here to read more.
Has a monsoon rebound improved farm income prospects?
The past few quarters have seen worries emerge on weak rural demand, owing to ominous signs such as slowing consumer packaged goods sales growth and pressure seen in the sales of consumer durables and two-wheelers. In June, the prospects for rural demand recovery got another jolt after the monsoons played truant. As of 5 July, overall sowing in the Kharif season was down by 26.7 percent over a year ago, according to government data. Things have improved since with July seeing healthy rainfall and sowing picking up. But is it enough to spark an improvement in farm income and rural demand? Click here to read more.
Crude course: Concern and comfort
Crude oil prices have been ruling weak for some time now after global equity markets went into a tailspin following US President Donald Trump’s threat that he would slap a 10 percent tariff on a further $300 billion in Chinese imports from 1 September. Recent US government data showed a build of 2.4 million barrels in American stockpiles instead of the 2.8 million draw analysts had expected. Global geopolitical tensions and other factors have also suppressed world economic growth. Given these factors, are low crude oil prices here to stay for some time? What can the government do to take advantage? Click here to read more.
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Updated Date: Aug 13, 2019 13:20:32 IST