India Industrial production December 2021

India: Industrial output growth moderates notably in December

Industrial output rose 0.4% in year-on-year terms in December, which followed November’s 1.3% increase. The outturn marked the worst reading since February 2021. December’s slowdown was largely driven by a contraction in manufacturing output—the first decline in 10 months—while mining production growth softened. That being said, the utility subsector increased at a quicker pace in December.

Meanwhile, annual average industrial production growth ticked down to 19.2% in December (November: +19.3%).

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