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Factory Output Growth Surges To 9-Month High, Inflation Eases

12 October 2017

The factory output stands at 4.3 per cent, while Index of Industrial Production (IIP) is at 4.3 per cent for August 2017, against 1.2 per cent in July.

However, for the period April-August 2017, factory output grew at disappointing 2.2 per cent as compared to 5.9 per cent growth in same period last fiscal.

Retail inflation came in at 3.28 per cent in September, unchanged from August, despite softening of vegetable and cereal prices, according to government data. Economists, polled by Reuters, had predicted industrial production to rise 2.4 per cent in August.

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Manufacturing sector, which accounts for more than three-fourth of the entire index, continued to growth at 3.1 percent in August, compared with 0.1 percent growth in July, government data showed.

The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month.

The output of mining and electricity sectors during the month accelerated to 9.4 percent and 8.3 percent from (-) 4.3 percent and 2.1 percent respectively in August past year. The electricity sector also rose with its output at 8.3% as compared to 6.5% in July.

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The August intermediate goods output is at -0.2 per cent, against -1.8 per cent in July.

Meanwhile, retail inflation recorded at 3.28 percent in September.

Among non-food categories, the "fuel and light" segment's inflation rate accelerated to 5.56 per cent in September.

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Factory Output Growth Surges To 9-Month High, Inflation Eases