India`s industrial output jumps in June

India’s industrial production accelerated in June 2009 to 7.8% from 5.4% in the same period last year, the Government said. Markets had expected industrial output growth of 3.5-4% in June. The Government also announced that it had revised the May IIP growth figure to 2.2% from the provisional estimate of 2.7%. Industrial production grew by 3.7% during April-June 2009-10, the first quarter of the current fiscal year, as against 5.3% in the same period of last year. For the month of June 2009, Electricity production stood at 8% (2.6%) while Manufacturing output grew by 7.3% (6.1%) and Mining surged by 15.4% (0.1%). For the first three months, the output for the three IIP components stood at 6%, 3.2% and 7.3%, respectively. As many as 12 out of the 17 industry groups showed positive growth during June 2009 compared to the corresponding month of the previous year. Growth rate in Basic Goods, Capital Goods and Intermediate Goods for July stood at 10.1%, 11.8% and 7.9%, respectively versus 2.2%, 7.8% and 2.8% in July last year. Consumer Durables and Consumer Non-durables recorded a growth rate of 15.5% and 0.3% respectively with the overall growth in Consumer Goods being 4%. In the same month last year, the growth rate in Consumer Durables, Consumer Non-durables and Consumer Goods was 4.6%, 11.6% and 9.9%