India Industry May 2017


India: Industrial production growth eases in May

July 14, 2017

Industrial output growth slipped to 1.7% annually in May from April’s 2.8%, according to the recently revised industrial production index. May’s result followed a revised 2.8% expansion in April (previously reported: +3.1% year-on-year).

A sharp contraction in mining output and slower growth of manufacturing goods drove the result. On a use-based classification, the production of capital goods fell notably, while output of intermediate goods slowed.

Annual average growth in industrial production fell from 4.7% in April to 4.2% in May.

FocusEconomics panelists expect industrial production to increase 5.9% in fiscal year 2017, which is unchanged from last month’s forecast. For fiscal year 2018, the panel expects industrial output to expand 6.8%.

Author: Angela Bouzanis, Senior Economist

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India Industry Chart

India Industry May 2017

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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