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

12 Octobre 2017

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.

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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.

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