Industry in India
India - Industry
Industrial production growth slows in August
Annual industrial production increased 4.3% in August, down from July’s revised 6.5% (previously reported: +6.6% year-on-year) but above market analysts’ expectations of 3.8% growth.
There was a mixed performance across industrial sectors in August. Solid output expansions in the manufacturing sector—which represents nearly 80% of total industrial production—and the electricity sector underpinned growth, whilst a contraction in mining output weighed on the overall result. In the manufacturing sector, 16 out of the 23 sub-sectors recorded production expansions in August, with the furniture; apparel; wood and cork products; and motor vehicles, trailers and semi-trailers sub-sectors recording the fastest rates of growth.
On a use-based classification, industrial production in August was supported by strong output growth of infrastructure and consumer non-durable goods. Meanwhile, production of consumer durable goods and capital goods increased at robust paces, while output of primary and intermediate goods grew slowly.
India Industrial Production Forecast
FocusEconomics panelists expect industrial production to increase 6.1% 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 6.3%.
India - Industry Data
|Industrial Production (annual variation in %)||3.3||4.1||3.4||4.5||4.3|
5 years of economic forecasts for more than 30 economic indicators.
India Industry Chart
Source: Ministry of Statistics and Programme Implementation and FocusEconomics calculations.
|Bond Yield||7.91||-0.04 %||Oct 17|
|Exchange Rate||73.53||-0.09 %||Oct 18|
|Stock Market||34,780||-0.08 %||Oct 17|
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October 15, 2018
In September, consumer prices fell 0.07% from the previous month, contrasting the 0.43% rise recorded in August.
October 12, 2018
Annual industrial production increased 4.3% in August, down from July’s revised 6.5% (previously reported: +6.6% year-on-year) but above market analysts’ expectations of 3.8% growth. There was a mixed performance across industrial sectors in August.
October 5, 2018
At its monetary policy meeting on 3–5 October, five out of the six members of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) voted to keep interest rates unchanged.
October 4, 2018
The composite Purchasing Manager’s Index (PMI), produced by Nikkei and IHS Market, fell to 51.6 in September from 51.9 in August, but remained above the 50-point threshold that separates expansion from contraction in the private sector.
September 14, 2018
In August, merchandise exports increased 19.2% compared to the same month last year, up from the 14.3% expansion recorded in July.