India’s industrial production decreased from last year in November, contrary to economists’ forecast for ta modest increase, data from the Central Statistics Office showed Friday.
Industrial production declined 0.1 percent on an annual basis in November, defying economists’ forecast for a 0.2 percent increase. In October, production had increased significantly by 8.3 percent, which was revised up from 8.2 percent.
Driving the latest fall in overall production, mining output fell 5.5 percent annually. Production in the manufacturing sector moved up 0.3 percent from last year, while electricity production advanced 2.4 percent.
Among industry sub-sectors, production of basic goods dropped 7.7 percent, and capital goods output decreased by 1.1 percent. Output of consumer durables and consumer non-durables recorded growth of 1.9 percent and 0.3 percent respectively.
During the April-November period, industrial production increased 1 percent from the corresponding period a year earlier, data showed.
by RTT Staff Writer
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