India: Industrial production picks up pace in April
June 12, 2015
In April, industrial production expanded 4.1% compared to the same month last year. The reading was above March’s revised 2.5% increase (previously reported: +2.1% year-on-year), and overshot the 1.5% expansion the market had expected.
The acceleration in April was driven by a pick-up in manufacturing. Manufacturing production rose 5.1% over the same month last year, which was above March’s 2.8% rise. In contrast, mining expanded a meagre 0.6% in April, which was below March’s 2.8% increase. In addition, production of electricity swung to a contraction.
On a use-based classification, the figure was driven by a broad-based improvement. The production of consumer goods rebounded in April and the production of capital goods accelerated.
Corroborating the improved performance in industrial production, the trend improved. Annual average growth in industrial production rose from 2.8% in March to 2.9% in April.