Industry in India

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India - Industry

Industrial production growth accelerates to a four-month high in June

Annual industrial production growth accelerated to 7.0% in June from May’s revised 3.9% (previously reported: +3.2% year-on-year), overshooting market analysts’ expectations of 5.5% and representing a four-month high.

The strong reading in June was broad-based across industrial sectors but was notably supported by a large expansion in the manufacturing sector. The reading in June also benefitted from a low base effect.

On a use-based classification, industrial production in June was boosted by strong output expansions of consumer durable, primary, capital and infrastructure goods. Dragging on overall growth were weak readings for intermediate and consumer non-durable goods.

FocusEconomics panelists expect industrial production to increase 6.2% in fiscal year 2018, which is up 0.2 percentage points from last month’s forecast. For fiscal year 2019, the panel expects industrial output to expand 6.5%.

India - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)3.3  4.1  3.4  4.5  4.3  

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India Industry Chart

India Industry
Note: Annual variation of industrial production in %.
Source: Ministry of Statistics and Programme Implementation and FocusEconomics calculations.

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