The latest CII ASCON survey reveals a weakening of industrial performance during October–December 2012, which is set to decelerate further during January-March 2013 as per industry estimates. Indicating that the economy is showing no signs of bottoming out, the number of sectors reporting low growth in the January-March 2013 quarter of the current year has increased significantly over the corresponding period of last year. This is despite the slew of economic reform measures introduced by the Government in order to arrest the downward spiral in growth.
With industrial performance continuing to weaken, the subdued Indian economy is showing no signs of bottoming out, finds the recent CII ASCON Survey.