India’s Industrial Output Growth Slows In September
India’s industrial output growth slowed in September as the revival after the Goods and Services Tax-led disruption lost some momentum.
The Index of Industrial Production rose 3.8 percent during the month compared to a revised 4.5 percent rise in August, according to data from the Central Statistics Office. A Bloomberg poll of economists had expected the index to grow 4.1 percent during the month.
Eleven out of the 23 industry groups in the manufacturing sector showed growth in September over a year ago. The growth, however, slowed over August when restocking after the GST rollout and an earlier onset of festival season had led to a sharp rise in industrial production.
- Mining output rose 7.9 percent on a yearly basis.
- Manufacturing output increased 3.4 percent in the same period.
- Electricity production rose 3.4 percent year-on-year.
- Capital goods production rose 7.4 percent on a yearly basis.