India's industrial growth clocks nine-month high of 4.3% in August

India's industrial growth clocks nine-month high of 4.3% in August

India's annual consumer inflation in September marginally eased to 3.28% from a year ago, government data showed on Thursday.

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 a year ago.

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. However, the with August's industrial production at 4.3%, it is inching towards 4.5% growth in July previous year. The consumer price index (CPI) based inflation stood at 4.39 percent during the same month past year. Services prices fell by 0.16% year-on-year.

The Consumer Price Index (CPI) or retail inflation stood at 4.39 per cent in September 2016.


The National Bank of Romania (BNR) revised at the beginning of August the inflation forecast for the end of this year to 1.9 pct, given that it had previously estimated a 1.6 pct inflation rate, down 0.1 percentage points. Similarly, consumer non-durables grew almost 7 percent, which contracted (-) 0.1 percent in July.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country's business landscape.

It was 3.36 percent in the previous month. It is also below the Reserve Bank of India's medium target of 4 per cent.

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