In December, industrial production expanded 1.8% over the same month the previous year, according to the so-called quick estimate for the index of industrial production (IIP). The reading was down from both the 5.9% increase recorded in November as well as market expectations of a 3.4% rise. The slowdown was primarily driven by a sharp deceleration in manufacturing output, which accounts for over three quarters of industrial production. On a use-based classification, the monthly figure mainly reflected plummeting growth in capital goods production as well as a contraction in intermediate goods. As a result of the weak monthly expansion, the trend in industrial production continues to point downwards, with annual average growth falling from 5.3% in November to 4.7% in December. According to preliminary government estimates, the economy will expand 6.9% this current fiscal year, which will end in 31 March.
Industrial production slows to a crawl
February 10, 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.