Double boost for economy: Industrial output growth rebounds; inflation cools

Andrew Cummings
October 12, 2017

The output of mining and electricity sectors during the month accelerated to 9.4 percent and 8.3 percent from (-) 4.3 percent and 2.1 percent respectively in August previous year.

Factory output growth measured in terms of Index of Industrial Production (IIP) stood at 4 percent in August 2016, as per data released by the Central Statistics Office (CSO).

The General Index for the month of August 2017 stands at 121.5, which is 4.3% higher as compared to the level in the month of August 2016.

Industrial production grew at a nine-month high of 4.3 percent in August, mainly on account of robust performance of mining and power sectors coupled with higher capital goods output, official data showed on Thursday.

India's annual retail inflation remained static in September with a marginal drop in the food prices.

Retail or consumer inflation rose at lower-than-expected 3.28 per cent in September, unchanged from August.

The government today revised July's factory output growth to 0.9 percent in July, as compared with an earlier estimate of 1.2 percent.

Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month. The manufacturing sector output also rose 3.1 per cent. The rate continues to be below 4 per cent, the mid-term target set by the Reserve Bank of India (RBI).

But on a year-on-year basis, inflation in September however moderated.

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