India Industry April 2019

India

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.

Last month, FocusEconomics panelists expected industrial production to increase 5.1% in fiscal year 2019, which was down 0.7 percentage points from the prior month’s projection. For fiscal year 2020, the panel expected industrial output to expand 5.8%. A new Consensus Forecast will be published on 18 June.


Author:, Economist

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India Industry April 2019 0

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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