India Industrial production October 2020

India

India: Industrial production growth accelerates robustly in October

December 11, 2020

Industrial output increased 3.6% year-on-year in October (September: 0.5% yoy). The figure marked the best result since February and smashed market expectations of a 1.1% increase.

The reading reflected an upturn in activity in the manufacturing and electricity sectors, while the mining sector contracted.

Meanwhile, the trend pointed up, with the annual average variation of industrial production coming in at minus 10.8%, up from September's minus 11.7% reading.

FocusEconomics panelists expect industrial production to decrease 10.3% in FY 2020, which is up 5.0 percentage points from last month’s projection. In FY 2021, the panel expects industrial output to expand 12.6%.


Author:, Economist

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India Industry October 20 20

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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