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Double boost for economy: Industrial output growth rebounds; inflation cools

12 October 2017, 05:17 | Melvin Schneider

Industrial production has made a remarkable growth at 4.3% defying slowdown from previous month’s 1.2

Industrial production has made a remarkable growth at 4.3% defying slowdown from previous month’s 1.2

Retail inflation stood at 4.31 per cent in September, 2016.

India's industrial output grew sharply 4.3 percent in August, highest in nine months, showing signs of recovery, aided by an expansion in the manufacturing sector.

Economists surveyed by Reuters had forecast 2.4% growth in output compared with a revised 0.9% year-on-year increase in July.

Aided by a strong show in mining and electricity sectors, factory output growth for August 2017 came in at robust 4.3 per cent. However, the with August's industrial production at 4.3%, it is inching towards 4.5% growth in July previous year.

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 a year ago.

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The benchmark consumer-price index rose 3.28% from a year earlier, the same pace as in August.

Capital goods output, which is reflective of the private sector investment scenario, rose 5.4 percent in August compared with (-) 0.1 percent contraction in July. It is also below the Reserve Bank of India's medium target of 4 per cent.

As per the ministry's data, retail inflation on a YoY basis fell due to a fall in the prices of food items like pulses, eggs and spices.

Food price inflation that measures kitchen costs, remained soft at 1.76 per cent. Vegetables prices grew at 3.92 per cent in September as compared to 6.1 per cent in August.



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