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India Factory Output Slows
World Economy

India Factory Output Slows

India’s factory output growth rate rose by a negligible 0.1% in March, according to the Central Statistics Office, PTI reported. The flat turn was disappointing as factory output had finally turned a positive corner to reach 2%, after two straight months of decline. Factory output growth in India is assessed on the basis of the index of industrial production. Another worrying statistic was the decline in growth by 1.2% in the index for manufacturing and the marginal decline by 0.1% in the index for mining. The index for electricity registered a strong growth of 11.3%. Rate of inflation bucked the recent slowing trend in April, despite a good monsoon rainfall being predicted, which reversed the expectations of the Reuters economists tracking the situation. Annual retail inflation (based on the consumer price index) rose to 5.39% in April after two straight months of decline, unlike the predicted 5%.

 

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