MARKET TALK: Jan IP Data Unlikely To Comfort RBI On Growth -CS

Credit Suisse says there is little evidence to suggest that the RBI pays close attention to the industrial output data, but to the extent that it does, the January print is unlikely to provide that much comfort. The most interest rate-sensitive components of production, consumer durables and capital goods, continued to contract, and further lagged negative effects from the RBI's rate increases during 2011 can be expected over coming months, the house says. Government data showed India's factory output expanded 6.8% on-year in January, sharply above the 2.1% estimate in a Dow Jones Newswires poll