NEW DELHI (Reuters) -India’s industrial output growth hit a six-month high of 5.2% year-on-year in November helped by a strong rise in output of consumer durables and capital goods, government data showed on Friday.
Economists polled by Reuters had expected a growth of 4.1%.
Output in the manufacturing sector, which accounts for about 17% of India’s gross domestic product, advanced 5.8% in November, while electricity generation grew 4.4% and mining activity rose 1.9%, the data showed.
In October, these sectors had grown by 4.4%, 2% and 0.9%, respectively.
“We need to see if this (IIP growth) can be sustained in the coming months as this will help in boosting the GDP growth number for the year where manufacturing sector growth has been subdued at 5.3%,” said Madan Sabnavis, an economist at Bank of Baroda.
India’s growth is projected to slow to a four-year low of 6.4% in the financial year ending March 31, according to government estimates released earlier this week.
Consumer durables output, which includes household appliances and vehicles, rose 13.1% in November against a revised 5.7% growth a month ago.
Output of capital goods, which includes manufacturing plants and machinery, rose 9% in November compared to 3.1% in October.
Industrial output increased by 4.1% in the April-November period, compared to a revised 6.5% growth a year ago.
(Reporting by Nikunj Ohri and Manoj Kumar; Editing by Varun H K)
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