India Industrial Output Growth Eases To 2.7%

(RTTNews) - India's industrial production growth moderated in April, though at a slower-than-expected pace, data from the Ministry of Statistics and Programme Implementation showed Wednesday.

Industrial production rose 2.7 percent year-over-year in April, after an upwardly revised 3.9 percent growth in March. The expected increase was 1.0 percent.

The overall growth in April was mainly driven by a 3.4 percent expansion in the manufacturing sector. Electricity production grew 1.1 percent compared to last year, while mining activity logged a contraction of 0.2 percent.

Among use-based categories, the consumer goods division showed the strongest production growth of 7.9 percent, followed by construction goods with 6.7 percent. The annual growth in capital goods output eased to 5.6 percent from 6.3 percent.