India: Industrial activity expands for the first time since February in September
November 12, 2020
Industrial output increased a modest 0.2% year-on-year in September (August: -7.4% yoy). The figure marked the best result since February and smashed market expectations of 2.0% decline.
The reading reflected a broad-based upturn, with activity in the mining and electricity sectors expanding, while the contraction in the manufacturing sector softened notably.
Meanwhile, the trend pointed up, with the annual average variation of industrial production coming in at minus 11.7%, up from August's minus 12.1% reading.
Author: Steven Burke, Economist