Experts peg Nov IIP growth at 9-10 per cent

NEW DELHI: Experts expect factory production to slightly decelerate to 9-10 per cent in November, the data for which will be announced tomorrow.

Industrial production grew by a robust 10.3 per cent in October, driven mainly by the manufacturing and consumer durables sectors.

"Industry is likely to grow by 9.6 per cent in November. Consumer non-durables, mining and basic goods may not be that robust in the month," Yes Bank chief economist Shubhada Rao said.

According to HDFC Bank economist Jyotinder Kaur, the core industrial growth has been relatively slackening and its effect is likely to be seen in the November data.

"I expect industrial production to grow by nine per cent. Though exports have turnaround substantially, core industrial growth has been relatively slackening," she said.

However, Crisil principal economist DK Joshi expects the IIP numbers to be around 10 per cent during the month. "Industrial production in November is likely to be robust. I expect it to grow by 10 per cent," he added.

Industry grew by a robust 10.3 per cent in October against a paltry 0.1 per cent a year ago, powered by manufacturing, particularly consumer durables, which was driven by the stimulus packages.