Indian IP growth accelerated to 4.1%YoY in February compared with growth of 1.1%YoY in January (revised downward from 6.8% earlier), and 2.5%YoY in December 2011. This was below the consensus expectation as per Bloomberg survey of 6.7%YoY and slightly below our expectation of
5-6%YoY.
In the manufacturing segment, growth improved to 4%YoY as compared to 1.4%YoY in January.
On the use-based classification, consumer goods output declined 0.2%YoY compared with growth of 2.9% in Jan 2012.
