India’s Industrial Output Rises in September

India’s industrial production picked up by 2 percent in September over the previous year, the government said Tuesday. The expansion in output was a welcome sign of life for Asia’s third-largest economy, which has been growing at its slowest pace in a decade.

The growth was led by a 12.9 expansion in electricity but showed an anemic manufacturing uptick of just 0.6 percent. The mining sector was up 3.3 percent.

Weak demand has been tamping down industrial output in India as inflation combined with weak growth and a falling rupee make consumers reluctant to spend.

September’s Index of Industrial Production numbers were stronger than the previous month’s combined expansion of just 0.6 percent.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza