Green shoots of economic recovery visible, says CII ASCON survey

Industrial growth for the April-June quarter in the current financial year has improved across sectors, according to the ASCON survey by the Confederation of Indian Industry (CII).

Based on feedback from sectoral associations of around 35,000 companies, the survey shows growth improvement both on a quarter on quarter and a year-on-year basis. While the analysis for April-June is based on 93 sectoral responses, that for January-March FY15 was based on 112 responses.

The share of sectors recording excellent growth of around 20 per cent in the latest quarter has surged up to 16.1 per cent against 7.1 per cent recorded in the year-ago period.

At the same time, the share of sectors witnessing a high growth rate of 10 to 20 per cent has reduced significantly to 9.7 per cent in the same period from 14.3 per cent last year. Those reporting moderate growth also declined marginally to 51.7 per cent compared to 51.8 per cent in the year-ago period.