IIP Growth Rises To 9-Month High Of 4.3 Percent In August

12 October, 2017, 17:17 | Author: Leticia Walters
  • India's factory output grows sharply at 4.3% in August

Food and beverages during the month under consideration recorded a rise of 1.76 per cent over the same month previous year.

The factory output stands at 4.3 per cent, while Index of Industrial Production (IIP) is at 4.3 per cent for August 2017, against 1.2 per cent in July. Last year, consumer inflation rose by 4.39 per cent in the month of September.

The index of industrial production (IIP) growth was 4 percent in August 2016.

The annual consumer inflation in September marginally eased to 3.28% from a year ago, the CSO data said.

Manufacturing sector, which constitutes over 77 percent of the index, showed a growth of 3.1 percent in August as compared to a growth of 5.5 percent in the same month past year.

Capital goods output, which is reflective of the private sector investment scenario, rose 5.4 percent in August compared with (-) 0.1 percent contraction in July.

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. The drop in inflation could also raise demands for a rate cut now from the Reserve Bank of India that had kept the benchmark rates unchanged due to rising inflation trend.

Fuel inflation stood at 5.56 percent in September, while housing inflation stood at 6.10 per cent.

Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month.

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