India: Industrial production growth slows in January
Annual industrial production growth decelerated to 1.7% in January from a revised 2.4% in December (previously reported: +1.7% year-on-year). The result undershot market analysts’ expectations of 2.1% growth.
In terms of sectors, industrial production growth slowed in January due to a moderated expansion in manufacturing output and electricity generation compared to December. On the other hand, mining output increased, contrasting the decrease in December. On a use-based classification, industrial production was weighed on by decreases in output of capital goods and intermediate goods, and weak growth in output of primary goods and consumer goods. On the other hand, output of infrastructure goods increased strongly.