Outlook: Broad based contraction was witnessed in the manufacturing sector and it was likely due the shortage of currency which was at peak in the month of December. 22% contraction in capital goods production during Apr-Dec'FY17 indicated weak investments scenario as corporates are making low investments due to prevailing low demand. On the other hand, private players are also sitting on high production capacity; thereby an improvement in capex cannot be expected without the emergence of strong demand in the economy. Consumers durables segment which had been showing strong growth on the back of improving disposable income of consumers, had also impacted by the demonetization move. However, manufacturing PMI reviving to expansion phase at 50.5 in January from 49.6 in...