Key Points
A moderation in manufacturing output owing to pressures from the global slowdown and lower domestic demand pushed industrial growth to a three-month low of 3.7% in June compared with 5.3% in May, belying hopes of a broad-based recovery, according to experts...
The sequential slowdown was led by the manufacturing sector, while the mining and electricity sectors witnessed an improvement in their growth performance amid deficient rainfall in the month, said Aditi Nayar, chief economist, Icra...
Manufacturing, which has a weight of 77.6% in the Index of Industrial Production, grew at its slowest pace of 3.1% in three months, even as electricity and mining outperformed, showed a government data release on Friday...
The consumer durables contracted 6.9% yoy in June 2023 pointing to the impact of inflation and weak consumption demand in the economy, said Sunil Kumar Sinha, chief economist and Paras Jasrai, senior analyst, Ind-Ra Primary goods production increased to a four-month high of 5.2% in May, whereas intermediate goods grew at the fastest pace in a year of 4.5%...
"The ongoing pattern of recovery is still not broad-based may take longer as spike in inflation in July and August 2023 is expected to adversely impact consumer goods production, Ind-Ra noted, pegging IIP growth at 5% in the near term...
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