India Industrial production May 2021


India: Industrial output growth eases from April's record rate in May

July 12, 2021

Industrial output increased 29.3% in year-on-year terms in May, which followed April's 134.6% jump. Looking at the details of the release, May’s lose of momentum was broad-based, with the manufacturing, mining and electricity sub-sectors all decelerating.

Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at 11.0% in May, up from April’s 7.8% reading.

FocusEconomics panelists expect industrial production to increase 11.6% in FY 2021, which is up 0.1 percentage points from the previous month’s forecast and to rise 6.4% in FY 2022.

Author:, Economist

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India Industrial production Chart

India Industry May 2021

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Ministry of Statistics and Programme Implementation (MOSPI) and FocusEconomics calculations.

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