India Industrial Output Growth Tops Expectations

(RTTNews) - India's industrial production growth accelerated more than expected in May underpinned by strong improvement in electricity and manufacturing.

Industrial production expanded 4.7 percent in May from last year, faster than the 3.4 percent increase seen in April, the Central Statistics Office reported. Economists had forecast the annual increase to rise moderately to 3.6 percent.

Within overall production, manufacturing output grew 4.8 percent and electricity climbed 6.3 percent. Mining output grew only 2.7 percent.

During April to May, industrial production advanced 4 percent from the same period of previous year.

According to Purchasing Managers' survey, India's manufacturing sector expanded for the eighth consecutive month in June on robust domestic and foreign demand.