India: Industrial production growth accelerates in April
June 12, 2019
Industrial production increased 3.4% in April in annual terms, up from March’s revised 0.4% increase (previously reported: -0.1% year-on-year) and marking the fastest pace of growth in six months. However, monthly figures tend to be very volatile, so it is still too early to tell whether April’s figure will mark the start of a more sustained upturn in industrial production.
In terms of sectors, growth was underpinned by expansions in the manufacturing, mining and electricity sectors. On a use-based classification, output of primary goods and consumer non-durables recorded the fastest expansions in April.
Annual average growth in industrial production moderated from 3.7% in March to 3.6% in April.
Author: Oliver Reynolds, Economist