IIP grows at 7.1% in December : Indian industrial production measured by the Index of Industrial Production (IIP) for the month of December increased by 7.1%, higher than market expectation of 6%, though it was slowed when compared with November 25-month high output growth of 8.8%. However, the figure was also positively affected by favorable base effect as IIP growth was 2.4% in year ago period disrupted by the demonetization. Manufacturing sector, which accounts for 77.6% of the index, during the month under review rose by 8.4% in Dec (10.7% in Nov) and 16 out of the 23 industry groups in the...