81787
India Factory Output Grows
India Factory Output Grows

India Factory Output Grows

India Factory Output Grows

India’s industrial output growth momentum continued as it grew at 7.1% in December, aided by robust manufacturing output, data released by the central statistics office showed, Moneycontrol reported. Factory output had hit a 25-month high of 8.4% in November, last year, as compared with a modest growth of 2.4% during December, 2016. Factory output measured by the index of industrial production is the closest approximation for measuring economic activity in the country’s business landscape. Cumulative IIP growth for the period April-December 2017 over the corresponding period of the previous year stands at 3.7%. The jump in IIP in November and December was primarily due to base effect—a statistical phenomenon that makes even tiny changes look large. The effect was primarily contributed to Prime Minister Narendra Modi’s massive currency recall exercise on November 8, 2016 that pulled out 86% of the currency in circulation. Manufacturing sector, which accounts for more than three-fourths of the entire index soared 8.4% in December 2017, compared with a 10.2% jump in November 2017 and a tepid growth of 0.6% a year ago, government data showed. IIP growth nevertheless remained healthy at 7.1%

 

Short URL : https://goo.gl/VfrLM9
  1. https://goo.gl/R4D6uR
  • https://goo.gl/m2wNaC
  • https://goo.gl/PxHGyT
  • https://goo.gl/ueX6F1
  • https://goo.gl/xMMajA

You can also read ...

China Challenges US Solar Panel Duties
China says it is challenging a US tariff hike on solar panels...
In a retaliatory move, President Recep Tayyip Erdogan’s government on Wednesday announced higher tariffs on some US imports, namely on passenger cars (120%) and leaf tobacco (60%).
Turkey has raised tariffs on some US imports, including...
World trade volume growth peaked in January at almost 5.7% year-on-year but nearly halved to less than 3% by May.
Cyclical indicators point to slower and more uneven growth in...
Moody’s Predicts Slower Fiscal Progress in S. Africa
South Africa’s fiscal consolidation will be slower than the...
Nigeria CPI Drops to 11.14 Percent
Nigeria’s National Bureau of Statistics says the consumer...
File picture of Kim Jong-un (L) and Moon Jae-in at the truce village  of Panmunjom, South Korea.
South Korea President Moon Jae-in on Wednesday offered a bold...
Surging Inflation Mars Philippines Growth
The Philippine economy in 2018 is a story that can be summed...
Transport tickets and fuel have driven up costs for consumers.
Inflation in the UK climbed in the month of the July, as had...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus