India’s industrial production declined sharply and at a faster than expected pace in February, preliminary figures from the statistical office showed Monday.
The industrial production index dropped 3.6 percent year-on-year following a 0.9 percent decrease in January. Economists had expected a 3.0 percent fall.
In the same month last year, production grew 5.2 percent.
Manufacturing output fell 3.7 percent from a year ago and mining production dropped 5.5 percent. Electricity output edged up 0.1 percent.
During the April to February year-to-date period, industrial production decreased 11.3 percent and manufacturing output shrank 12.6 percent.
The material has been provided by InstaForex Company – www.instaforex.com