NEW DELHI (Reuters) -India’s industrial output in January outpaced expectations, powered by strong manufacturing and mining activity, government data showed on Wednesday.
Industrial output in January grew 5% year-on-year, against the 3.5% growth expected by economists polled by Reuters and the 3.2% growth in December.
Industrial output last grew at nearly 5% in November.
Manufacturing output advanced 5.5% in January, electricity generation grew 2.4% and mining activity rose 4.4%, the data showed. In December, these sectors had grown by 3.4%, 6.2% and 2.7%, respectively.
India’s industrial output in January was impressive as it involved manufacturing growth, Madan Sabnavis, economist at Bank of Baroda said, adding full-year growth can be expected between 5%-5.5% if the trends persist.
Consumer durables output, which includes household appliances and vehicles, rose 7.2% in January against 8.3% a month earlier.
Output of capital goods, which includes manufacturing plants and machinery, increased 7.8% in January compared to a slightly revised 10.4% in December.
Industrial output increased by 4.2% in the April-January period compared to 6% a year ago.
(Reporting by Shivangi Acharya; Editing by Eileen Soreng)
