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Showing posts with label India's industrial production jumped an unexpected 2.6 percent in July. Show all posts
Showing posts with label India's industrial production jumped an unexpected 2.6 percent in July. Show all posts

July industrial output surprises with 2.6 pct growth


A labourer work inside an iron wire manufacturing factory on the outskirts of Jammu October 9, 2012. REUTERS/Mukesh Gupta/Files

India's industrial production jumped an unexpected 2.6 percent in July after contracting for two straight months, government data showed on Thursday, good news for Asia's third-largest economy as it tries to emerge from a deep slump.
Analysts polled by Reuters had expected output to shrink an annual 0.8 percent in July after a 2.2 percent contraction in June.
The manufacturing sector, which constitutes about 76 percent of industrial production, rose 3.0 percent from a year earlier, the statistics office said.
Capital goods production, a barometer for investments in the economy, rebounded by a robust 15.6 percent in July from a year earlier