India: Industrial production growth slows in May
Industrial production increased 3.1% in May in annual terms, down from April’s revised 4.3% increase (previously reported: +3.4% year-on-year).
In terms of sectors, growth was notably underpinned by an expansion in the electricity sector, although the manufacturing and mining sectors posted strong expansions too. On a use-based classification, output of consumer non-durable goods powered the growth reading in May.
Annual average growth in industrial production moderated to 3.6% in May from 3.7% in April.