China's industrial output grew at a surprisingly faster pace in October, despite fresh curbs to control Covid outbreaks and supply shortages that have threatened to undercut the recovery in economy.
Core sector rose 16.6 per cent in the first half of the current financial year against a contraction of 14.5 per cent in the corresponding period of the previous year
Double-digit growth in industrial output can be attributed to the impact of a low base
Saudi Gazette has lauded India's industrial sector, especially the 'Make in India' initiative which promotes manufacturing in India and has been a pushing factor for the country's economic growth.
Inflation based on Consumer Price Index (CPI) remained elevated due to soaring fuel prices and costlier items in the food basket
Retail sales increased 12.4% versus an estimate of 14%
IIP for the mining, manufacturing and electricity sectors for April stood at 108, 125.1 and 174, respectively
Industrial output shrinks 1.6% in January
Experts say MPC may continue with accommodative stance in next nine months
Diesel is a bellwether of industrial activity in India
Coal, electricity and steel, which constitute over half of the core sector index, showed a rise in production in September
An annual decline in fixed-asset investment over January-August also moderated due to government stimulus efforts
All the components of the IIP - mining, manufacturing and electricity - saw contraction on a smaller magnitude as compared to the previous month
The government said "it may not be appropriate to compare the IIP for May 2020 with those of months preceding the Covid-19 pandemic
Headline inflation numbers were not released in April and May due to inadequate data collection owing to lockdown restrictions
Data shows most indicators are still significantly lower than peak levels
The exit plan from the lockdown is recommended after getting suggestions from a detailed interaction with various states and industry bodies, the letter said.
The rise in the Index of Industrial Production (IIP) helped pull up cumulative growth in industrial output to 0.9 per cent in the April-February period of 2019-20,
Scale became critical because of steadily increasing capital intensity that the new technologies engendered
This is a major contraction considering lower dips of 9.6% and 3.8% in October and November 2019, respectively