India Industrial Output Growth Eases To 2.9%

(RTTNews) - India's industrial production growth moderated more-than-expected in February to the lowest level in six months, data from the Ministry of Statistics and Programme Implementation showed Friday.

Industrial production rose 2.9 percent year-over-year in February, much slower than the 5.2 percent growth in January. The expected increase was 4.0 percent.

The slowdown in overall growth in February was mainly due to the developments in the manufacturing and mining segments.

The annual growth in manufacturing softened to 2.9 percent from 5.8 percent. Similarly, mining output grew at a slower pace of 1.6 percent versus 4.4 percent a month ago.

Meanwhile, electricity production growth improved to 3.6 percent from 2.4 percent.

From April to February, industrial production posted an annual growth of 4.1 percent compared to a 6.0 percent rise in the same period last year.