India: Industrial output grows at record pace in March
May 12, 2021
Industrial output rose 22.4% year-on-year in March (February: -3.4% yoy). The result marked the best result on record—predominately due to a low base effect. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and electricity sub-sectors all improving in March.
Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at minus 8.4% in March, up from February's minus 11.8% reading.
Author: Steven Burke, Economist