Manufacturing sector, which constitutes over 77 percent of the index, showed a growth of 3.1 percent in August as compared to a growth of 5.5 percent in the same month past year.
India's retail inflation stayed unchanged in September, as a slower rise in food prices helped offset costiler fuel, government data showed Thursday.
In a boost to the economy, the factory output growth in August surged to 9-month high of 4.2 per cent, indicating an acceleration of industrial activities after the initial setback due to GST-related destocking.
The previous high in IIP growth was recorded at 5.7 per cent in November 2016. The lower-than-expected inflation number in September is primarily driven by a contraction in food inflation. Services prices fell by 0.16% year-on-year.
Economists surveyed by Reuters had forecast 2.4% growth in output compared with a revised 0.9% year-on-year increase in July.
Pak Senate passes resolution against law aiding Nawaj Sharif
He said the legislation passed by the parliament was aimed to strike down the law introduced by another military dictator. The resolution was approved by the Senate with 52 votes in favour and 28 against it.
The industrial production, which grew a meagre 1.2%, bearing the brunt of a dismal show of the manufacturing sector, made a remarkable comeback at 4.3%.
Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month.
India's consumer price inflation numbers remained steady in September while industrial production rose favourably.
There is no room or scope for further easing rates for at least 3-4 months.
According to BNR, the CPI annual inflation rate going back to the target interval was estimated to occur in the third quarter of 2017.
- Military plane crash in Spain - casualties unclear
- Et maintenant, un ouragan sur la France métropolitaine — Ouragan Ophelia
- Advantage Oil & Gas Limited (NYSE:AAV) Stock Is Shorted Less
- Pas avant 2019 — Présidentielle en RDC
- Tata Teleservices to merge with Airtel on 'cash-free, debt-free' basis
- Les femmes de Khalifa Sall restent déterminées, les avocats veulent aller à la Cour de justice de la CEDEAO
- Apple Reportedly Working On Foldable Phone With LG Display
- High Court Likely To Deliver Verdict Today In Aarushi Talwar Murder Case
- PSG : Emery fait le point sur les blessés
- Drive to aid Puerto Rico Recovery