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

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

Industrial production has made a remarkable growth at 4.3% defying slowdown from previous month's 1.2%. However, on a year-on-year (YoY) basis, the country's September retail inflation was lower than the 4.39 per cent CPI rate reported for the corresponding month of last year.

India's annual retail inflation remained static in September with a marginal drop in the food prices. Economists, polled by Reuters, had predicted industrial production to rise 2.4 per cent in August. According to preliminary data released by the Central Statistics Office on Thursday, the consumer price index (CPI) increased 3.28 per cent year on year against the August numbers of 3.36 per cent.

Manufacturing sector, which accounts for more than three-fourth of the entire index, continued to growth at 3.1 percent in August, compared with 0.1 percent growth in July, government data showed.

More news: Apple to partner with LG for foldable iPhone

Capital goods output, which is the barometer of investment, rebounded by 5.4 percent from a growth of 0.5 percent a year ago.

Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month. The output of the mining and electricity sectors grew at 9.4 per cent and 8.3 per cent as compared to August 2016. The September CPI food inflation is at 1.25 per cent, against 1.52 per cent in August, while the CPI fuel, light inflation stands at 5.56 per cent, against 4.94 per cent in August.

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