A Moneycontrol poll of 16 economists had predicted IIP growth may decline to 1.7 percent in August. The last time India's industrial production had contracted was in February 2021.Īt -0.8 percent, the August industrial growth figure is well below the consensus estimate. India's industrial growth, as per the Index of Industrial Production (IIP), slid to an 18-month low of -0.8 percent in August from 2.2 percent in July, data released by the Ministry of Statistics and Programme Implementation on October 12 showed. IIP contracts 0.8% in August, worst performance in 18 months The minutes of the September 20-21 meeting showed many Fed officials "emphasised the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action". September FOMC showed agreement on higher rates for longerįederal Reserve policymakers agreed they needed to move to a more restrictive policy stance - and then maintain that for some time - in order to meet the US central bank's goal of lowering inflation, a readout of last month's two-day meeting showed on Wednesday. The Nifty futures were trading around 17,031 levels on the Singaporean exchange. Trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 73 points. MSCI’s broadest index of Asia-Pacific shares outside Japan was just above the flatline. The Nikkei 225 in Japan was fractionally lower and the Topix was down 0.28%. In Australia, the S&P/ASX 200 was 0.3% higher. Shares in the Asia-Pacific were mixed on Thursday as investors await inflation data from the US. Pharma Industry Conclave Unlocking opportunities in Metal and Mining.Deloitte Best Managed Companies 2022 Sustainability 100+.
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