Indian industrial production likely to have declined in August on weaker electricity and manufacturing output
Source: FxWire Pro - Commentary / 10 Oct 2019 14:35:49 America/New_York
Indian industrial production data for the month of August is set to release tomorrow. According to a DBS Bank research report, the industrial production is likely to have dropped 2 percent on a year-on-year basis, weighed down by softer electricity and manufacturing output. Industrial production had recorded a stronger print of a rise of 4.3 percent in the prior month.
Core industries output had indicated to a widespread slowdown in activity, especially coal, steel and cement, which do not augur well for industrial and infrastructure output.
“These coupled with other high frequency data – car sales, PMIs, imports of capital goods etc. – reinforce a softening trend of growth in 3Q19. Cognizant of a weaker growth momentum, the central bank and the government have undertaken steps to boost growth, which will continue in 2020 as well”, added DBS Bank.© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.