India: Industrial production contracts at the sharpest pace since February 2013 in September
November 11, 2019
Industrial production fell 4.3% in September compared to the same month a year earlier, down from August’s revised 1.4% decrease (previously reported: -1.1% year-on-year).
Most industrial sectors contributed to the slump in September, with output in the mining sector dropping the most, followed by that of the manufacturing sector and electricity sector, respectively. By use, production of capital goods collapsed by over one fifth in September, while output of consumer durable, construction and primary goods also dropped notably. Meanwhile, production of consumer non-durable goods decreased only slightly in September, while output of intermediate goods increased.
Annual average growth in industrial production moderated to 2.0% in September from 2.7% in August.
Author: Edward Gardner, Economist