India Industrial Production Growth Slows
(RTTNews) - India's industrial production grew less than expected in December, with the pace slowing sharply from the previous month, preliminary figures from the statistics ministry showed Friday.
The industrial production index rose 4.3 percent year-on-year following a 7.3 percent increase in November. Economists had expected a 4.5 percent gain.
In the same month a year ago, the industrial production grew 1.0 percent.
Read more: India Manufacturing Growth Remains Strong
Manufacturing output rose 2.6 percent annually in December. Electricity generation grew 10.4 percent and the mining sector production increased 9.8 percent.
Within manufacturing, production of pharmaceuticals, medicinal chemical and botanical products registered the biggest growth of 16.0 percent. Food production grew 1.2 percent.
The computer, electronic and optical products segment registered the worst fall in output of 37.0 percent. India's factory activity continued to expand strongly in January despite slower rises in new orders and output amid weaker foreign demand, results of the purchasing managers' survey from S&P Global showed last week.
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