India: Industrial production growth accelerates in October
December 12, 2018
Annual industrial production increased 8.1% in October, up from 4.5% in September. The uptick was driven by stronger output growth in the electricity sector and the manufacturing sector, which represents nearly 80% of total industrial production in India. Moreover, mining output surged in October after growing only very slowly in September.
On a use-based classification, industrial production in October was supported by strong output growth of consumer-durable, infrastructure and capital goods. Production of consumer non-durable and primary goods also increased quickly in October, while output of intermediate goods only rose modestly.
India Industrial Production Forecast
FocusEconomics panelists expect industrial production to increase 5.8% in fiscal year 2018, which is unchanged from last month’s forecast. For fiscal year 2019, the panel expects industrial output to expand 5.8%.
Author: Edward Gardner, Economist