Wednesday, 18 October, 2017

Factory growth, inflation likely to trend higher, says Morgan Stanley report

The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file
Jo Caldwell | 13 October, 2017, 00:35

The earlier projected Inflation rate for August stood 3.36 per cent. IIP or Index of Industrial Production grew to a nine-month high of 4.3 per cent in August.

According to the data furnished by the Ministry of Statistics and Programme Implementation, September's consumer price index (CPI) inflation remained static at 3.28 per cent as compared to August.

Aided by a strong show in mining and electricity sectors, factory output growth for August 2017 came in at robust 4.3 per cent. The Index of Industrial Production (IIP) recorded 4 per cent growth in August previous year.

The International Monetary Fund (IMF) on Tuesday also cut its growth forecast for the Indian economy by half a percentage point to 6.7% for 2017-18, blaming the lingering disruptions caused by demonetisation of high value currencies past year and the roll out of the GST.

More news: Disgraced Producer Harvey Weinstein Out from BAFTA Due to Sexual Assault Allegations
More news: Prime Is Now Half-Price for Students
More news: Neville's future in WWE uncertain after walking out before Raw

Capital goods output, which is reflective of the private sector investment scenario, rose 5.4 percent in August compared with (-) 0.1 percent contraction in July. At least 10 industry groups showed growth in manufacturing sector.

The July IIP growth has been revised to 0.9 per cent from 1.2 per cent.

IIP growth during April-August period of this fiscal stood at 2.2 per cent, down from 5.9 per cent in the same period in 2016-17. The drop in inflation could also raise demands for a rate cut now from the Reserve Bank of India that had kept the benchmark rates unchanged due to rising inflation trend. "This is a good sign that notwithstanding the expected increase in prices of some food products, rentals/housing, transport and clothing, inflation has remained low".

Recommended

  • Australian woman wrangles shark with bare hands out of pool, video shows

    Australian woman wrangles shark with bare hands out of pool, video shows

    Huge cheers could be heard in the background as she succeeded in lifting the shark up and threw it back into the sea. Sydney resident Melissa Hatheier was swimming in a bay near Melbourne, when she stumbled upon a shark.
    United States pulls out of UNESCO

    United States pulls out of UNESCO

    UNESCO Director-General Irina Bokova responded to the move in a lengthy statement , describing it as "a loss for multilateralism". Just hours after that vote, the US chose to cut its payments to UNESCO, while still maintaining its membership.
    Serena Williams will be back to defend Australian Open title

    Serena Williams will be back to defend Australian Open title

    And Australian Open organisers confirmed she is still pushing to return to the WTA Tour in Melbourne Park. Williams has won 23 Grand Slam singles titles, one more than Steffi Graf for the Open-era record.
  • A three-year-old boy was left at a Utah corn maze Monday night

    A three-year-old boy was left at a Utah corn maze Monday night

    When the group returned home, they watched a movie and she dozed off, unaware that she had left her child. Monson says the mother later arrived at the police station with about 10 children.
    Apple's Face ID may not be iPhone X exclusive for long

    Apple's Face ID may not be iPhone X exclusive for long

    Apple is likely to bring its Face ID facial recognition technology to the next iPad Pro , according to reports on Monday. It's not clear what the fate of the Home button and Touch ID will be now that Face ID is gaining prominence.
    OPEC courting more oil producers to restore stability; may benefit India

    OPEC courting more oil producers to restore stability; may benefit India

    Saudi Arabia and Russian Federation , he said , are leading the initiative to bring in more producers. He said the picture was "not clear because you still have hurricane related news".
  • Arsene Wenger: Mesut Ozil and Alexis Sanchez may be sold in January

    Arsene Wenger: Mesut Ozil and Alexis Sanchez may be sold in January

    Like Sanchez , the former Real Madrid midfielder has no intention of signing a new deal and is out of contract next summer. Arsene Wenger says it is "possible" that Arsenal could cut their losses on Alexis Sanchez and Mesut Ozil in January.
    United States  shows off bombers again over Korea

    United States shows off bombers again over Korea

    A spokesman from South Korea's Defense Ministry declined to comment, saying the information is classified. Cheol-hee is a member of the South Korea's ruling party, and sits on the parliament's defence committee.
    Real Nissan GT-R Made Into Remote-Controlled Car

    Real Nissan GT-R Made Into Remote-Controlled Car

    James Brighton, JLB Design Ltd, added: "The GT-R /C presented some unique challenges and a number of engineering firsts for us". Nissan has come up with something very appreciable innovation to celebrate releasing of the Gran Turismo Sport on 18th October.
  • Palestinians Strike Gaza Unity Deal After Marathon Cairo Talks

    Palestinians Strike Gaza Unity Deal After Marathon Cairo Talks

    Palestinian Authority President Mahmoud Abbas has said he wants weapons to be under unified control. Hamas and Israel fought three devastating wars over the past decade.
    Creed 2: Sylvester Stallone confirms he's directing

    Creed 2: Sylvester Stallone confirms he's directing

    After the first film's success both critically and commercially, it was only a matter of time before a sequel was announced. Jordan's Adonis Creed (son of Apollo) and a new, more socially conscious outlook on what it means to be a modern underdog.
    Republicans to Trump and Corker: Please just stop

    Republicans to Trump and Corker: Please just stop

    Corker had been an ally and personal friend to the president before they developed a public feud on social media. Bob Corker of having worked with Democrats and the Obama administration to make the Iran nuclear deal happen.

Trump on Iran nuke accord: It's the 'worst deal. We got nothing' Trump on Iran nuke accord: It's the 'worst deal. We got nothing' Many Democrats believe that is more likely to happen if Congress does not act to make changes to the existing agreement. As British Ambassador to the U.S.

Disney Scraps Animated 'Jack and the Beanstalk' Movie, 'Gigantic' Disney Scraps Animated 'Jack and the Beanstalk' Movie, 'Gigantic' Apparently the studio got to the point where the creative process has hit a wall and they are "ending active development for now". The film was originally set to be released in 2020 and would have featured Jack making friends with a female giant child.

Trump challenges Tillerson to compare IQ tests Trump challenges Tillerson to compare IQ tests In an interview with Forbes published Tuesday, Trump dismissed the story as false, and offered a solution. Tillerson scores 120, while Trump's is just a crudely done kid's drawing of the president in a truck.

Ophelia becomes remarkable 10th hurricane of season Ophelia becomes remarkable 10th hurricane of season The 2017 hurricane season was forecast by NOAA, and many other forecast products to be the busiest we have seen since 2010. After moving past Spain, forecasters expect Ophelia to come quite close to the Irish coast as a strong storm on Monday.

Trump warns 'disgusting' press after nuclear policy report Trump warns 'disgusting' press after nuclear policy report The president was reacting to an NBC News report that he pushed senior aides for a major expansion of the US nuclear arsenal. Neither the White House nor Comcast/NBC Universal responded for comment on Trump's tweet .