In January, industrial production expanded 6.8% over the same month last year, according to the so-called quick estimate for the index of industrial production (IIP). The reading exceeded both the revised 2.5% increase recorded in December (previously reported: +1.8% year-on-year) as well as market expectations. The acceleration was primarily driven by a sharp rebound in manufacturing output, which accounts for over three quarters of industrial production. On a use-based classification, the monthly figure mainly reflected faster growth in consumer goods production. Despite the stronger monthly expansion, the trend in industrial production continues to point downwards, with annual average growth inching down from 4.8% in December to 4.7% in January. The government expects economic growth to reach 6.9% this current fiscal year, which will end in March.
Industrial production bounces back
March 12, 2012
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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.