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Financial News: India's Industrial Output Growth Accelerates To 3.8%

India's Industrial Output Growth Accelerates To 3.8%

02/12/2024 - 07:32:00 (RTTNews)

(RTTNews) - India's industrial production growth improved unexpectedly in December after easing sharply in the previous month, data from the Ministry of Statistics and Programme Implementation revealed on Monday.

Industrial output expanded 3.8 percent year-over-year in December, faster than the 2.4 percent rise in November. Meanwhile, economists had expected a stable growth rate of 2.4 percent.

In October, industrial output logged its biggest upturn in sixteen months.

Among the major three sectors, mining output grew the most, up by 5.1 percent. This was followed by a 3.9 percent rise in manufacturing output and a 1.2 percent increase in electricity production.

During April to December, industrial production grew 6.1 percent from the same period last year, data showed.

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