India's industrial output (IIP) rose to 13.5 percent in March from a year earlier, weighed down by a partial withdrawal of stimulus measures and by a hike in benchmark rates.
Manufacturing output rose 14.3 percent in March. Industrial output rose 10.4 percent in the 2009-10 fiscal year (April-March), faster than the 2.6 percent clocked in the previous fiscal year.
Already, the core sector, which constitutes around one-fourth of total industrial production, expanded by over seven per cent in March. Automobile industry, important part of consumer durables industry, recorded a healthy 26.41 per cent growth in sales in 2009-10.
The year was marred by a weak monsoon, which badly impacted farm output, besides poor exports growth due to the demand slump in advanced economies after the financial crisis.
The stimulus packages and revival of domestic demand, however, helped industry post an improved performance, enabling the economy to recover faster than most other countries from the impact of global financial crisis.
Manufacturing output rose 14.3 percent in March. Industrial output rose 10.4 percent in the 2009-10 fiscal year (April-March), faster than the 2.6 percent clocked in the previous fiscal year.
Already, the core sector, which constitutes around one-fourth of total industrial production, expanded by over seven per cent in March. Automobile industry, important part of consumer durables industry, recorded a healthy 26.41 per cent growth in sales in 2009-10.
The year was marred by a weak monsoon, which badly impacted farm output, besides poor exports growth due to the demand slump in advanced economies after the financial crisis.
The stimulus packages and revival of domestic demand, however, helped industry post an improved performance, enabling the economy to recover faster than most other countries from the impact of global financial crisis.
The IIP Data was negative on month-on-month basis, but positive on year-on-year basis. This signals that a caution must be taken while investing at this time in the markets and also signifies that the problem still exists in the Developed Economies, which will take much longer time to be resolved.
No comments:
Post a Comment