In February, industrial output grew 3.6% over the same month the year before, according to the so-called quick estimate for the index of industrial production (IIP). The reading was below the 3.9% rise tallied in January (previously reported: +3.7% year-on-year) and undershot market expectations of a 5.1% increase. The deceleration over the previous month was mainly due to slower growth in electricity generation, which slowed from a 10.5% year-on-year increase in January to 6.7% in February. Meanwhile, growth in manufacturing, which accounts for around three quarters of total industrial output, remained virtually unchanged over the previous month at 3.5%. On a use-based classification, the figure continued to be underpinned by a contraction in the production of capital goods (January: -18.8% yoy: February: -18.4% yoy). Owing to the weak reading, the trend in industrial production continued to moderate, with annual average growth falling from 9.4% in January to 8.5% in February. The national statistical office recently stated that it expects industrial output to have risen by 8.0% in the current fiscal year, which ended March.
Industrial productions continues losing steam
April 11, 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.