India’s industrial output rises 3.2% Y/Y in December, its slowest pace in 4 months

NEW DELHI: India’s industrial output grew at its slowest pace in four months, dragged down by weaker growth in the manufacturing sector, according to government data released on Wednesday.

Industrial output in December grew 3.2% year-on-year, against the 3.9% growth expected by economists polled by Reuters. Industrial output was flat in August.

Manufacturing output advanced 3% in December, electricity generation grew 6.2% and mining activity rose 2.6%, the data showed. In November, these sectors had grown by 5.5%, 4.4% and 1.9%, respectively.

For January, the electricity and mining segments may weigh on India’s industrial output, indicating further moderation in growth, ICRA economist Aditi Nayar said.

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Consumer durables output, which includes household appliances and vehicles, rose 8.3% in December against a revised 14.1% a month earlier.

Output of capital goods, which includes manufacturing plants and machinery, jumped 10.3% in December compared to a revised 8.8% in November.

Industrial output increased by 4% in the April-December period compared to 6.3% a year ago.