India’s Industrial Output Rises 4.5% In September
India’s factory output rose more than expected in September despite a depreciating rupee and higher fuel prices increasing costs.
The Index of Industrial Production rose 4.5 percent year-on-year in September, compared with a 4.1 percent growth in the same month last year, data released by the Ministry of Statistics and Programme Implementation showed. A Bloomberg poll of economists had projected a 4.3 percent growth. The reading for August was revised to 4.67 percent from 4.3 percent earlier.
- Mining output grew 0.2 percent year-on-year compared with 7.6 percent in the same month last year.
- Manufacturing output rose 4.6 percent compared with last year’s growth of 3.8 percent.
- Electricity generation growth stood at 8.2 percent compared with a 3.4 percent rise last year.
Output in 17 of the 23 industry groups in the manufacturing sector grew in September, with furniture, wearing apparel and wood and wood products showing the highest growth. On the other hand, printing and reproduction of recorded media, tobacco products saw the steepest decline.
The use-based classification showed that primary goods output rose 2.6 percent, while capital goods output increased 5.8 percent. Output of intermediate goods grew 1.4 percent.
- Infrastructure goods production rose 9.5 percent.
- Consumer durables output rose 5.2 percent.
- Non-consumer durables grew 6.1 percent over last year.