• Indian industrial production likely to have declined in August on weaker electricity and manufacturing output

    المصدر: FxWire Pro - Commentary / 10 أكتوبر 2019 14:35:49   America/New_York

    Indian industrial production data for the month of August is set to release tomorrow. According to a DBS Bank research report, the industrial production is likely to have dropped 2 percent on a year-on-year basis, weighed down by softer electricity and manufacturing output. Industrial production had recorded a stronger print of a rise of 4.3 percent in the prior month.

    Core industries output had indicated to a widespread slowdown in activity, especially coal, steel and cement, which do not augur well for industrial and infrastructure output.

    “These coupled with other high frequency data – car sales, PMIs, imports of capital goods etc. – reinforce a softening trend of growth in 3Q19. Cognizant of a weaker growth momentum, the central bank and the government have undertaken steps to boost growth, which will continue in 2020 as well”, added DBS Bank.

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