India Industry June 2018

India

India: Industrial production growth accelerates to a four-month high in June

August 10, 2018

Annual industrial production growth accelerated to 7.0% in June from May’s revised 3.9% (previously reported: +3.2% year-on-year), overshooting market analysts’ expectations of 5.5% and representing a four-month high.

The strong reading in June was broad-based across industrial sectors but was notably supported by a large expansion in the manufacturing sector. The reading in June also benefitted from a low base effect.

On a use-based classification, industrial production in June was boosted by strong output expansions of consumer durable, primary, capital and infrastructure goods. Dragging on overall growth were weak readings for intermediate and consumer non-durable goods.

FocusEconomics panelists expect industrial production to increase 6.2% in fiscal year 2018, which is up 0.2 percentage points from last month’s forecast. For fiscal year 2019, the panel expects industrial output to expand 6.5%.


Author:, Economist

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