India: Industrial production picks up in February
April 10, 2015
In February, industrial production expanded 5.0% compared to the same month last year. The reading was above January’s revised 2.8% increase (previously reported: +2.6% year-on-year), and overshot the 3.3% expansion the market had expected.
The acceleration in February was broad-based. Manufacturing production rose 5.2% over the same month last year, which was above January’s 3.4% rise. Mining expanded 2.5% in February, which contrasted January’s 2.0% fall. In addition, production of electricity picked up.
On a use-based classification, the figure was driven by an improvement in the production of consumer goods, basic goods and intermediate goods. In contrast, the production of capital goods decelerated in February.
As a result of the acceleration, the trend improved. Annual average growth in industrial production rose from 2.0% in January to 2.6% in February.