Friday, September 10, 2010

July industrial output up 13.8% YoY

India's industrial output in July rose at a faster-than-expected 13.8% from a year earlier, sharply higher than the previous month's 7.1%, government data showed on Friday.

A poll had suggested industrial output to come in at 7.89%.

Industrial output rose 10.4% in the 2009-10 financial year (April-March) , faster than the 2.8% clocked in the previous fiscal year. India's headline inflation for July eased from double digits to 9.97%.

Commenting on India's July factory output figures, deputy chairman of Planning Commission Montek Sigh Ahluwalia said they were better-than-expected and there is a good case for the government to increase its economic growth target for the current fiscal year.