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Published: Mon, November 13, 2017
Economy | By Melissa Porter

India's factory output slows to 3.8% in September

India's factory output slows to 3.8% in September

"Stronger global growth and the effect of the weaker pound seems to be finally showing through in the United Kingdom manufacturing numbers", said ING economist James Smith.

Primary goods output rose 6.6 percent, capital goods production grew 7.4 percent and intermediate goods logged 1.9 percent gain.

Industrial output and manufacturing output in the United Kingdom both rose by 0.7% in September - the fastest growth for each sector since December past year.

This came on the back of August figures that was revised up to 0.8% growth.

India's industrial output slowed to 3.8 percent in September from the month ago when factory output grew at 4.3 percent.

In terms of industries, eleven out of the twenty three industry groups (as per 2-digit NIC-2008) in the manufacturing sector have shown positive growth during the month of September 2017 as compared to the corresponding month of the previous year.

The ONS also reported that the UK's trade in goods deficit was £11.25bn in the month, better than the £12.8bn analysts had pencilled in, with exports rising faster than imports.

Electricity production increased 3.4 percent in September vs 8.3 percent in the month before.

However, construction output fell by 1.6 per cent in the month.

Separate data from the ONS showed that construction output decreased 1.6% month-on-month in September, amid declines in both fix and maintenance as well as all new work.

Economists polled by The Wall Street Journal had forecast a 0.5% expansion. The cumulative growth for the period April-September 2017 over the corresponding period of the previous year stands at 2.5 percent.

Consequently, the estimate for the third quarter sequential decline in construction output was revised down to 0.9% from 0.7%.

The figures reportedly suggest that manufacturing may help to counteract a consumer-led slowdown in the economy. "So we remain optimistic that net trade will provide more support to growth in the quarters ahead".

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