India: Industrial production growth slows to a four month low in June
Industrial production increased 2.0% in annual terms in June, down from May’s revised 4.6% increase (previously reported: +3.1% year-on-year) and marking the lowest reading since February.
In terms of sectors, growth in June was weighed on by weaker readings in the manufacturing and mining sectors. On the other hand, the electricity sector saw growth accelerate in June. By use-based classification, decreased production of capital, consumer durable and construction goods all dragged on industrial production growth. More positively, output of intermediate and consumer non-durable goods grew quickly in June, and output of primary goods also increased.
Annual average growth in industrial production moderated to 3.5% in June from 4.0% in May.