City
Epaper

India's industrial production growth less than estimates: Morgan Stanley

By IANS | Updated: September 13, 2022 19:00 IST

Chennai, Sep 13 India's industrial production (IP) growth moderated to four month low of 2.4 per cent year-on-year ...

Open in App

Chennai, Sep 13 India's industrial production (IP) growth moderated to four month low of 2.4 per cent year-on-year (YoY) in July, from 12.3 per cent YoY in June, partly due to base effect, said Morgan Stanley in a report.

This was below its four per cent and consensus 4.2 per cent estimates, said Morgan Stanley.

On a seasonally adjusted sequential basis, IP contracted by 7.1 per cent month on month (MoM), versus growth of 2.5 per cent in June.

According to the report, although growth slowed across the board, mining was the only sector to contract, by 3.3 per cent.

Manufacturing activity growth slowed to 3.2 per cent, and electricity production to 2.3 per cent.

On a YoY basis, growth decelerated for all sectors, with consumer non-durables declining by two per cent.

Capital goods recorded the highest growth at 5.8 per cent.

The high-frequency data depicted continued divergence in domestic versus external demand, with the global slowdown impairing trade, financial conditions and business sentiment, said Morgan Stanley.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: indiachennaiMorgan StanleyIndiUk-indiaRepublic of indiaIndia indiaGia indiaMadras missionIndia eu
Open in App

Related Stories

HealthUS Rice Contains Highest Arsenic Levels; Indian Basmati and Thai Jasmine Among Safest, Reveals New Study

NationalGold Rate on July 2: Prices in India Rise After 2-Day Dip; Check City-Wise 18K, 22K, and 24K Rates Here

NationalAir India Mumbai-Chennai Flight Returns Mid-Air After Burning Smell Onboard

Maharashtra"This is Betrayal": Former MP Calls Out Prada for Allegedly Copying Kolhapuri Chappal Design

InternationalWhen Will Russia Deliver More S-400 Missiles to India? Major Update Revealed - Here’s Why It Was Delayed

International Realted Stories

InternationalPM Modi, Trinidad and Tobago PM condemn terrorism in all forms

InternationalIndia has demonstrated how scale and speed can go hand-in-hand: FM Sitharaman

InternationalPower supply from Nepal to Bangladesh through Indian grid is a milestone, says Nepali Envoy in Dhaka

InternationalDistance is no barrier to cultural connections: PM Modi on getting grand welcome from Indian diaspora in Argentina

International24 die in Texas floods, Trump calls inundation 'terrible'