Overview

• Manufacturing output rose 3.4% in April, down from 4.2% a year earlier, with 16 of 23 industry groups reporting gains.
• Mining production contracted by 0.2% compared with a 6.8% expansion in April 2024, and electricity generation increased by just 1.1%.
• Capital goods output jumped 20.3% on the back of robust machinery and equipment manufacturing.
• Consumer durables grew 6.4% while consumer non-durables fell 1.7%, highlighting uneven consumption trends at the start of the fiscal year.
• Analysts describe the 2.7% growth as a moderately positive start to the new fiscal year despite lingering global uncertainty over US tariffs.