In May, industrial production rose 5.6% over the same month last year, according to the so-called quick estimate for the index of industrial production (IIP). The figure came in below the 5.8% expansion recorded in April (previously reported: +6.3% year-on-year), marking the slowest pace of expansion in nine months. In addition, the reading undershot market expectations that had industrial output rising 8.5%. The slower pace of expansion was the result of a deceleration in the manufacturing sector, which expanded 5.6% (April: +6.3% yoy). In contrast, growth in mining as well as in electricity generation picked up from last month. On a use-based classification, the moderation was underpinned by a slowdown in the production of capital and intermediate goods. In contrast, the production of consumer goods, particularly non-durables accelerated. Owing to the relatively weak print, the trend in industrial production continued to fall, down from 7.6% in April to 7.4%.
Growth in industrial output slows to a nine-month low
July 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.