India's Sept industrial output tops forecast

India’s Industrial Production in September rose by 9.1% as against 6% in the same month last year. Economists had expected IIP growth to come in at around 7-7.5%. The Government announced that it has revised August IIP growth from 10.4% to 11%. Manufacturing output in September stood at 9.3% versus 6.2% YoY. Electricity generation rose by 7.9% versus 4.4% YoY. Mining output expanded by 8.6% versus 5.8% YoY. Basic Goods output growth stood at 6.7% as against 5% in September 2008. Output of Intermediate Goods rose by 10.8% as against a drop of 2.5% in the same month last year. Capital Goods output growth declined to 12.8% from 20.8% YoY. Consumer Goods output grew by 8.2% versus 7.4% YoY. Consumer Durables output expanded by 22.2% as against 14.7% in the year ago period. Consumer non-durable output rose by 2.6% versus 4.8% YoY. Industrial production during the first six months of current fiscal grew by 6.5% as against 5% in the corresponding period of the last fiscal.