Media365
India’s industrial production accelerated to 8% in August from a revised 7.4% in July, beating economists’ expectations and pointing to continued momentum in the country’s manufacturing and industrial activity.
India’s industrial output grew 8 per cent year-on-year in August, accelerating from a revised 7.4 per cent growth in July, according to government data released on Monday.
The latest reading was significantly stronger than market expectations. Economists polled by Reuters had forecast 6.5 per cent growth in industrial output for August.
The data point to a stronger pace of industrial activity at the start of the second half of the financial year, with output growth coming in well above expectations.
Industrial production is closely watched as an indicator of activity across India’s factory and industrial sectors and forms an important part of the broader economic growth picture.
