India's June industrial output grows 7.3% y/y on manufacturing boost
- Mining activity climbed 1% year-on-year in June against a revised 1.4% fall in May
NEW DELHI: India’s industrial output growth accelerated to 7.3% in June, data showed on Tuesday, helped by strong manufacturing activity on the back of increased government spending and a continued expansion in electricity generation.
Economists polled by Reuters expected industrial output growth to accelerate to 5.7% in June from a revised 5.0% a month earlier.
In May, the government shifted to producer prices from wholesale prices for calculating factory output.
Manufacturing output grew 7.8% year-on-year in June against a revised growth of 5.2% in May.
Electricity generation rose 10.6% year-on-year in June against a revised increase of 10.3% a month earlier.
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Mining activity climbed 1% year-on-year in June against a revised 1.4% fall in May.
Output of consumer durables, including cars and phones, rose 7.7% year-on-year in June against a revised 8% increase a month earlier.
Capital goods output rose 14.2% year-on-year in June against a revised 15.5% increase in May.
Industrial output in April-June grew 5.8%, compared to an increase of 3.4% a year earlier.