In June, industrial production increased 8.8% over the same month last year, according to the so-called quick estimate for the index of industrial production (IIP). The reading exceeded the upwardly-revised 5.9% expansion seen in May (previously reported: +5.6% year-on-year) and beat market expectations that had industrial production rising 5.5%. The pick up in industrial production was entirely due to stronger manufacturing activity, which accelerated from a 6.1% increase in May to a strong 10.0% in June. In contrast, growth in mining as well as in electricity generation moderated from the previous month. On a use-based classification, the improvement came on the back of a robust expansion of capital goods production, which accelerated from 6.1% in May to an extraordinary 37.7% expansion in June. In contrast, the production of consumer goods slowed from 6.7% in May to 1.6% in June. Owing to the strong print, the trend in industrial production improved, up from 7.4% in May to 7.6% in June.
Industrial output growth rebounds in June
August 11, 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.