India’s industrial production growth accelerated more than expected in October, data from the National Statistical Office revealed on Friday.
Industrial output expanded 3.6 percent on a yearly basis in October, following a revised 0.5 percent increase in September.
This was also faster than the economists’ forecast of +1.1 percent. In the same period last year, production had decreased 6.6 percent.
The annual growth was driven by an 11.2 percent rise in electricity output and the 3.5 percent increase in manufacturing output. At the same time, mining output was down 1.5 percent.
During April to October, industrial production decreased 17.5 percent from the same period last year.
The material has been provided by InstaForex Company – www.instaforex.com