Published: Thu, October 12, 2017
Money | By Armando Alvarado

IIP Growth Rises To 9-Month High Of 4.3 Percent In August

IIP Growth Rises To 9-Month High Of 4.3 Percent In August

Aided by a strong show in mining and electricity sectors, factory output growth for August 2017 came in at robust 4.3 per cent.

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

India's industrial output grew sharply 4.3 percent in August, highest in nine months, showing signs of recovery, aided by an expansion in the manufacturing sector.

The Index of Industrial Production (IIP) had registered a tepid growth of 1.2 per cent in July this year.

The September CPI stands at 3.28 per cent, against 3.23 per cent registered in August, CPI rural inflation is at 3.15 percent against 3.22 percent in August, CPI urban inflation stands at 3.44 percent against 3.35 percent in August, CPI core inflation is at 4.6 percent against 4.5 percent posted in August.

Call Off Strike On October 13, OMCs Tell Fuel Dealers
For quite some time, the dealers are demanding inclusion of petroleum products under the Goods and Services Tax (GST). Meanwhile, the petrol bunk owners in the Telugu states have extended their support to the strike call.

India's annual retail inflation remained static in September with a marginal drop in the food prices.

Meanwhile, the July IIP number was revised to 0.94 percent from 1.2 per cent provisional estimates released last month.

Capital goods output, which is the barometer of investment, rebounded by 5.4 percent from a growth of 0.5 percent a year ago.

Retail inflation came in at 3.28 per cent in September, unchanged from August, despite softening of vegetable and cereal prices, according to government data. A Reuters poll showed that economists expected consumer inflation to rise to 3.60 per cent in September. The cumulative growth in these three sectors during April-August 2017 over the corresponding period of 2016 has been 3.3%, 1.6% and 6.2% respectively. The current inflation rate remains below the Reserve Bank's 4 per cent target.

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