India Industrial Production Growth Improves In May

(RTTNews) - India's industrial production grew at a faster than expected pace in May driven by a significant increase in electricity production, preliminary data from the statistics ministry showed on Monday.

The industrial production index rose 5.1 percent year-on-year following a 4.9 percent increase in April. Economists had forecast a 4.7 percent gain.

The main driver of the growth in industrial production in May was a 9.9 percent jump in output in the electricity and gas supply sector. In April, the output of this sector grew just 4.6 percent.

Manufacturing output growth slowed to 5.5 percent from 6.1 percent. Within this sector, the top three positive contributors were manufacture of motor vehicles, trailers and semi-trailers, that of electrical equipment and manufacture of basic metals.

Output in the mining and quarrying industry continued to fall, down 1.6 percent in May after a 3.8 percent fall in the previous month.

Output growth also lost some steam in the water supply, sewerage and waste management sector, down to 5.5 percent from 6.6 percent.