India’s November industrial output grows 6.7% y/y, fastest in two years

NEW DELHI: India’s industrial output in November grew at its fastest pace in two years on the back of strong manufacturing and mining activity, government data showed on Monday.

The industrial output accelerated 6.7% year-on-year, higher than 2.5% growth projected by a Reuters poll of economists.

The industrial output for October was revised to 0.5% year-on-year.

KEY NUMBERS

Manufacturing output grew 8% year-on-year in November as against a revised increase of 2% year-on-year a month ago.

Electricity generation dropped 1.5% year-on-year in November as against a 6.9% fall in October.

India’s November business growth slows to 6-month low on weak manufacturing, PMI shows

Mining activity showed an increase 5.4% year-on-year in November as against a decline of 1.8% a month ago.

Output of consumer durables, including cars and phones, rose 10.3% year-on-year in November as against a revised 1.3% fall a month ago.

Output of consumer non-durables, such as food items and toiletries, rose 7.3% year-on-year in November as against a revised decline of 5.2% a month ago.

Capital goods output increased 10.4% year-on-year in November as against a revised 2.1% rise in October.

Industrial output in April-November grew 3.3% as compared to a revised increase of 4.1% a year earlier.