India's August Industrial Production rises 4.3%

India's August Industrial Production rises 4.3%

The August mining sector output is at 9.4 per cent against 4.8 per cent in July, while the manufacturing sector output is at 3.1 per cent, against 0.1 per cent in July.

The output of mining and electricity sectors during the month accelerated to 9.4 percent and 8.3 percent from (-) 4.3 percent and 2.1 percent respectively in August past year.

India's annual consumer inflation in September marginally eased to 3.28% from a year ago, government data showed on Thursday.

The previous high in IIP growth was recorded at 5.7 percent in November 2016.

The earlier projected Inflation rate for August stood 3.36 per cent. IIP or Index of Industrial Production grew to a nine-month high of 4.3 per cent in August.

The August electricity sector output is at 8.3 per cent, against 6.5 per cent in July.

The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month. The drop in inflation could also raise demands for a rate cut now from the Reserve Bank of India that had kept the benchmark rates unchanged due to rising inflation trend.

Meanwhile, the July IIP number was revised to 0.94 percent from 1.2 per cent provisional estimates released last month. However, the with August's industrial production at 4.3%, it is inching towards 4.5% growth in July a year ago.

But on a year-on-year basis, inflation in September however moderated. A Reuters poll of economists which had projected inflation at 3.60 per cent.