India Industry January 2019


India: Industrial production growth slows in January

March 12, 2019

Annual industrial production growth decelerated to 1.7% in January from a revised 2.4% in December (previously reported: +1.7% year-on-year). The result undershot market analysts’ expectations of 2.1% growth.

In terms of sectors, industrial production growth slowed in January due to a moderated expansion in manufacturing output and electricity generation compared to December. On the other hand, mining output increased, contrasting the decrease in December. On a use-based classification, industrial production was weighed on by decreases in output of capital goods and intermediate goods, and weak growth in output of primary goods and consumer goods. On the other hand, output of infrastructure goods increased strongly.

FocusEconomics panelists expect industrial production to increase 6.0% in fiscal year 2018, which is up 0.1 percentage points from last month’s forecast. For fiscal year 2019, the panel expects industrial output to expand 6.2%.

Author:, Economist

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India Industry Chart

India Industry January 2019

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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