IIP growth rises to 9-month high of 4.3 pc in August

Double boost for economy Industrial output growth rebounds inflation cools

India's factory output grows sharply at 4.3% in August

India's annual consumer inflation in September marginally eased to 3.28% from a year ago, government data showed on Thursday.

Industrial production (IIP) rose to 4.3 per cent in August, up from July's 1.2 percent growth.

This was higher than the 4 per cent growth recorded in same month last fiscal.

The government today revised July's factory output growth to 0.9 percent in July, as compared with an earlier estimate of 1.2 percent.

The industry group "Manufacture of computer, electronic and optical products" has shown the highest positive growth of 24.9% followed by 16.5% in "Manufacture of pharmaceuticals, medicinal chemical and botanical products" and 11.1% in "Manufacture of other transport equipment".

The output of mining and electricity sectors during the month accelerated to 9.4 percent and 8.3 percent from (-) 4.3 percent and 2.1 percent respectively in August previous year. Similarly, consumer non-durables grew almost 7 percent, which contracted (-) 0.1 percent in July.

India's consumer price inflation numbers remained steady in September while industrial production rose favourably. The average rate of consumer prices over the last 12 months (October 2016 - September 2017), Y-o-Y, calculated against the CPI [consumer price index - ed.n.] stands at 0.4 pct.

Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month.

Compared to September 2016, food prices grew by 2.74% in September this year whereas non-food prices went up by 1.8%.

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