In August, industrial production grew 4.1% over the same month last year, according to the so-called quick estimate for the index of industrial production (IIP). The reading came in slightly above the revised 3.8% increase recorded in July (previously reported: +3.3% year-on-year) but undershot market expectations of a 4.7% expansion. The acceleration was the result of stronger growth in manufacturing, which stepped up from a 3.2% increase in July to a 4.5% expansion in August. In contrast, activity in both the mining as well as the electricity sectors deteriorated over the previous month. On a use-based classification, the improvement was underpinned by a rebound in the production of capital goods, which swung from a 13.8% contraction in July to a 3.9% increase in August. That said, all remaining categories ? basic, intermediate and consumer goods ? grew at a slower pace compared to July. Despite the subdued reading, the trend in industrial production stabilized, with annual average growth unchanged at 7.0%.
Industrial output growth inches up
October 12, 2011
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India Economic News
October 17, 2016
Recently-released data related to India’s external sector showed that the trade deficit totaled USD 8.3 billion in September, which was a smaller shortfall than the USD 10.2 billion gap recorded in September 2015 (August 2016: USD 7.7 billion deficit).
October 15, 2016
In September, consumer prices fell 0.23% from the previous month, which followed August’s flat growth.
October 12, 2016
The fall in industrial production moderated in August, after recording the largest contraction since November 2015 in July.
October 5, 2016
Activity in India’s manufacturing sector lost steam in September.
October 4, 2016
The newly facelifted Reserve Bank of India (RBI) decided to ease monetary policy at a scheduled meeting on 4 October, cutting the repurchase rate from 6.50% to 6.25%—an over five-year low.