SoFi CEO enters prepaid forward contract on 1.5 million shares
Investing.com -- India’s industrial output grew 3.5% year-on-year in July, exceeding economist expectations of 2.1%, according to government data released Thursday. This marks an acceleration from the 1.5% growth recorded in June.
Manufacturing output showed strong performance with a 5.4% increase in July, improving from the revised 3.7% rise seen in June. Electricity generation returned to positive territory with a modest 0.6% growth, recovering from a revised 1.2% decline in the previous month.
Mining activity continued to contract but showed signs of improvement, with a 7.2% year-on-year drop in July compared to a steeper 8.7% fall in June.
Consumer durables output, which includes cars and phones, surged 7.7% in July, significantly higher than the revised 2.8% growth in June. Consumer non-durables, such as food items and toiletries, grew 0.5%, reversing the revised 0.9% decline recorded in June.
Capital goods production increased by 5% in July, up from the revised 3% growth in June, indicating potential improvement in investment activity.
For the April-July period, industrial output grew 2.3%, which represents a slowdown compared to the revised 5.4% increase recorded in the same period a year ago.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.