India July factory growth likely cooled:
Analysts
10/09/2014 16:23
According to analysts, India’s factories may have boosted production at a slower pace in July as monsoon rains hampered core industries such as mining and cement, clouding the outlook for Asia’s third biggest economy, which grew at the sharpest clip in more than two years last quarter. Industrial production in India may have grown by 1.8 per cent in July 2014 over the same month a year ago, the fourth straight month of expansion, analysts’ estimates showed ahead of official data later this week. In June 2014, industrial production climbed by 3.4 per cent from the same month a year ago. Recent manufacturing data also signaled a slowdown in the sector. The growth of the eight core industries slowed in July while manufacturing activity cooled in August after hitting a 17-month high in July. The core sector gauge which tracks production in eight key infrastructure industries rose 2.7 per cent in July, down from a 7.3 per cent rise in June. The gauge measuring manufacturing activity in India fell to 52.4 in August from 53 in July, HSBC said. A reading above 50 signals expansion in manufacturing activity over the previous month. However, consumer inflation is likely to have edged lower to 7.80 per cent in August 2014 from July’s 7.96 per cent, leaving room for the RBI to ease monetary policy.
10/09/2014 16:23
According to analysts, India’s factories may have boosted production at a slower pace in July as monsoon rains hampered core industries such as mining and cement, clouding the outlook for Asia’s third biggest economy, which grew at the sharpest clip in more than two years last quarter. Industrial production in India may have grown by 1.8 per cent in July 2014 over the same month a year ago, the fourth straight month of expansion, analysts’ estimates showed ahead of official data later this week. In June 2014, industrial production climbed by 3.4 per cent from the same month a year ago. Recent manufacturing data also signaled a slowdown in the sector. The growth of the eight core industries slowed in July while manufacturing activity cooled in August after hitting a 17-month high in July. The core sector gauge which tracks production in eight key infrastructure industries rose 2.7 per cent in July, down from a 7.3 per cent rise in June. The gauge measuring manufacturing activity in India fell to 52.4 in August from 53 in July, HSBC said. A reading above 50 signals expansion in manufacturing activity over the previous month. However, consumer inflation is likely to have edged lower to 7.80 per cent in August 2014 from July’s 7.96 per cent, leaving room for the RBI to ease monetary policy.
