India Industry


Industrial production accelerates in September

Industrial production expanded 2.0% over the same month last year in September, according to the Quick Estimate of the Index of Industrial Production (IIP). The reading followed the revised 0.4% increase observed in August (previously reported: +0.6% year-on-year), but came in below market expectations of a 3.5% rise.

The expansion in September reflected a rebound in manufacturing production (September: +0.6% yoy; August: -0.2% yoy). In addition, both mining activity and electricity supply registered faster growth compared to the previous month. Annual average growth in industrial production inched up from 1.1% August to 1.3% in September.

FocusEconomics panelists expect industrial production to increase 3.9% in fiscal year 2013/2014, which is down 0.4 percentage points from last month's forecast. For fiscal year 2014/2015, the panel expects industrial output to expand 5.6%, which is unchanged over the previous month's forecast.

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India Industry Chart

India Industry September 2013

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Ministry of Statistics and Programme Implementation (MOSPI) and FocusEconomics calculations.

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