That was lower than the 4.5% expected by analysts polled by Reuters. In November output topped 7% while in December 2022 it rose 1%.
Industrial output for April-December rose 5.4% versus 15.3% in the same period last year when the data reflected a low base effect due to the pandemic.
In December, manufacturing rose 2.6% year on year compared with a 0.6% expansion last year.
Mining output rose 9.8% versus 2.6% a year earlier.
Electricity consumption rose 10.4% against 2.8% last year, the data showed.
“The YoY growth in the IIP is likely to improve in the ongoing quarter partly boosted by the typical year-end push in volumes to achieve targets,” said Aditi Nayar, an economist at ICRA.
India’s fiscal year starts April 1 and runs through March.
Nayar added that a fall in exports due to global weakness will be a key risk to India’s manufacturing sector.
Source: Economy - investing.com
