Factory Output Rises In September Even As Capital Goods Continue To Reel
India's factory output recovered in the month of September after contracting for two straight months.
Index of industrial production grew 0.7 percent from a year ago, according to data from the Central Statistics Office. Economists polled by Bloomberg had predicted 0.5 percent growth. The country's factory output had grown 3.7 percent in September 2015.
For the April-September period, industrial output has contracted 0.1 percent compared to an expansion of 4.1 percent in the same period last year.
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Manufacturing output increased 0.9 percent while electricity generation improved 2.4 percent in September. Mining output fell 3.1 percent, contracting for the second straight month.
Capital goods remained the biggest pain point, with output contracting 21.6 percent. The output of capital goods, which are required for input in production of other goods, has now fallen for ten straight months.
Consumer goods output rose 6 percent driven by a robust 14 percent increase in consumer durables.
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