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Factory output grows 2.6 per cent in July after two months of contraction

Discussion in 'Central & South Asia' started by Brahmos_2, Sep 12, 2013.

  1. Brahmos_2

    Brahmos_2 FULL MEMBER

    Feb 19, 2013
    +1 / 3,094 / -1
    After declining for two consecutive months, India's Index of Industrial Production, a measure of factory output, grew at 2.6 per cent in July.

    The index was in the negative zone in May and June, reading minus 2.9 per cent and minus 2.2 per cent, consecutively.

    The number came in much higher than a Reuters forecast of minus 0.8 per cent...:yahoo:

    Growth in Asia's third-largest economy has slowed to below 5 per cent in each of the past three quarters and with the central bank concentrating on propping up the battered rupee currency many economists have slashed GDP forecasts for this fiscal year.

    Infrastructure sector output rose 3.1 per cent year-on-year in July from 0.01 per cent in the previous month, government data showed last week.

    The sector is made up of the eight core industries - coal, crude oil, oil refinery, natural gas, steel, cement, electricity and fertilisers - and accounts for 37.9 per cent of India's industrial output.

    IIP grows 2.6 per cent in July after two months of contraction - NDTVProfit.com