India’s Factory Output Misses Estimates as Consumer Goods FallManish Modi
India’s factory output rose less than economists estimated, boosting pressure on policy makers to revive investment in Asia’s third-largest economy.
Industrial production rose 2.7 percent in May from a year earlier after a revised 3.4 percent gain in April, the Central Statistical Office said in a statement on Friday. That compares with a 4 percent rise predicted by the median of 32 estimates in a Bloomberg survey of economists.
Manufacturing output climbed 2.2 percent, electricity 6 percent, mining 2.8 percent and capital goods production rose 1.8 percent. Consumer goods fell 1.6 percent.
India is due to announce inflation numbers on Monday. Consumer prices probably rose 5.1 percent in June after a 5.01 percent increase the previous month, according to a separate survey.