India September Industrial Production Growth Misses Expectations

Jeremy Corbyn Visits British Steel Plant In Skinningrove

He said: "According to data from the Office for National Statistics, both industrial production and manufacturing output surged 0.7% in September, notching up the best performance so far this year".

India's industrial production grew less-than-expected in September, preliminary data from the Central Statistics Office showed Friday.

However, construction output fell by 1.6 per cent in the month.

On the other hand, the industry group "other manufacturing" has shown the highest negative growth of (-) 27.1 percent followed by (-) 23.1 percent in "manufacture of tobacco products" and (-) 19.2 percent in "manufacture of electrical equipment".

The deficit in September alone narrowed to 2.75 billion pounds, with the shortfall in goods alone falling to 11.3 billion pounds as exports rose 4.5 percent and imports climbed just 0.4 percent.


September was the sixth consecutive rise in industrial production, which Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, pointed out was "a feat last achieved 23 years ago".

However, he added that the recovery in manufacturing output could be hit by recent rises in the oil price.

The revisions have little effect on GDP growth in the third quarter, the ONS said.

That leaves construction output down 0.9% in the third quarter following a 0.5% decline in the second quarter. Industrial output grew 2.5 per cent in the first half of this fiscal compared to 5.8 per cent a year before.

The ONS said the latest economic data did not suggest there would be any change to its initial estimate that the United Kingdom economy grew 0.4% in the third quarter of the year.

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