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3h ago

India's Industrial Output Rises 3.5% in July on Manufacturing Strength

The surprise beat contrasts with weaker momentum so far this fiscal year.

A labourer welds an iron pillar at a building material factory in an industrial area in Dasna, in the central Indian state of Uttar Pradesh, India, January 9, 2019. Picture taken January 9, 2019. REUTERS/Adnan Abidi/File Photo
Photo: IANS
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Overview

  • Industrial production grew 3.5% year on year in July, up from 1.5% in June and the fastest pace in four months.
  • Manufacturing output increased 5.4%, while mining fell 7.2% and electricity edged up 0.6%, according to NSO data.
  • Capital goods production rose 5% in July, compared with 3% in June.
  • Cumulative industrial growth for April–July was 2.3%, down from 5.4% in the same period last year.
  • The July outcome topped the 2.1% expansion forecast in a Reuters poll of economists.