NEW DELHI, Nov 12 Reuters India39;s industrial output rose 3.1 yearonyear in September, backed by manufacturing activity, government data showed on Tuesday.
Economists polled by Reuters had expected a growth of 2.5. In August, industrial output had contracted for the first time in nearly two years.
Manufacturing output climbed 3.9 yearonyear in September, electricity generation grew 0.5 and mining activity rose 0.2, the data showed. The sectors had grown by 5.1, 9.9 and 11.5, respectively, a year ago.
India39;s manufacturing sector in September recovered from a 22month low hit in the previous month, as stockpiling ahead of India39;s festive season lifted industrial production, said Paras Jasrai, an economist at India Ratings and Research.
India39;s annual festival season typically runs from late September to early November.
In the AprilSeptember period, industrial output increased by 4, compared to revised 6.2 a year earlier.
With the early onset of the festive season helping balance an unfavourable base, industrial output is expected to grow between nearly 3 and 4 in October, said Aditi Nayar, an economist at ratings agency ICRA.
Reporting by Shivangi Acharya; Editing by Eileen Soreng
Source Reuters