India Industrial Output Growth Eases To 4.0%

(RTTNews) - India's industrial production expanded at a slightly slower pace in October amid a contraction in mining activity, data from the Ministry of Statistics and Programme Implementation showed Tuesday.

Industrial output climbed 4.0 percent year-over-year in September, following an upwardly revised 4.1 percent growth in August. Nonetheless, that was well above the expected increase of 2.6 percent.

The slowdown in September was mainly driven by a 0.4 percent decline in the mining sector. The annual growth in electricity production moderated to 3.1 percent from 4.1 percent. Meanwhile, the overall growth was on the back of a 4.8 percent accelerated expansion in the manufacturing sector.

During the April-September period, total industrial production advanced 3.0 percent compared to the corresponding period last year.