NEW DELHI, Feb 12 Reuters India39;s industrial output rose at a fasterthanexpected pace of 3.8 yearonyear in December, government data showed on Monday, on the back of a pick up in manufacturing activity.
For December, economists polled by Reuters had estimated growth of 2.4. In November, too, it rose 2.4.
Manufacturing output in December rose 3.9 yearonyear, against 3.6 in the same month in the previous year.
Consumer goods both durable and nondurable have registered positive growth rates which are good signs, Madan Sabnavis, an economist at Bank of Baroda said.
During the month, consumer durables grew 4.8, while consumer nondurables grew at 2.1.
Electricity generation in December was up 1.2, slower than 10.4 growth in the corresponding month a year earlier. Mining activities increased by 5.1, compared to a 10.1 rise in the same month a year earlier, the data showed.
Industrial output in the first nine months of the fiscal year that started in April was up 6.1 from the same period a year earlier.
Aditi Nayar, chief economist at ICRA, said she anticipates a modest rise in the industrial output growth to 46 in January.
Reporting by Sarita Chaganti Singh Editing by Bernadette Baum and David Evans
Source Reuters