India Industrial Production Growth Nearly Double Than Expected
(RTTNews) - India's industrial production in November grew at a pace that nearly double than the rate economists had expected, thanks to robust expansion in manufacturing.
The index of industrial production rose 8.4 percent year-on-year in November, the statistics ministry said Friday, which was much higher than the 4.4 percent economists' had expected.
The pace of growth was the highest in 17 months, the highest since June 2016, the Economic Times newspaper reported on its website.
Manufacturing grew 10.2 percent and electricity output rose 3.9 percent. Mining production increased 1.1 percent.
Capital goods production surged 9.4 percent, while output of intermediate goods grew 5.5 percent. Construction goods production increased 13.5 percent. Primary goods output rose 3.2 percent.
Consumer durables grew 2.5 percent and non-durables soared 23.1 percent.