BANGALORE: India's industrial output
accelerated to a modest pace in May on an annual basis from barely any
growth at all in April, held back by deep contractions in capital goods, a sign that the pace of overall economic growth remains weak.
A Reuters poll of 30 economists conducted between July 2-9 showed India's Index of Industrial Production (IIP) picked up to 1.8 percent from 0.1 percent in April. Forecasts ranged from no growth to a rise of 4.8 percent.
That consensus forecast is well below the average of around 9 percent annual growth in industrial output each month before Asia's third largest economy began to slow down in the second half of last year.
A Reuters poll of 30 economists conducted between July 2-9 showed India's Index of Industrial Production (IIP) picked up to 1.8 percent from 0.1 percent in April. Forecasts ranged from no growth to a rise of 4.8 percent.
That consensus forecast is well below the average of around 9 percent annual growth in industrial output each month before Asia's third largest economy began to slow down in the second half of last year.
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