Double bonanza for economy: Macros improve as inflation down, factory output up

India's factory output grows sharply at 4.3% in August

India September Consumer Price Inflation Unchanged at 3.28%

The annual consumer inflation in September marginally eased to 3.28% from a year ago, the CSO data said.

Data revealed overall food inflation moderated to 1.25 per cent in Sept from 1.67 per cent in previous month.

However, for the period April-August 2017, factory output grew at disappointing 2.2 per cent as compared to 5.9 per cent growth in same period last fiscal.

The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month.

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As per use-based classification, the growth rates in August 2017 over August 2016 are 7.1 per cent in primary goods, 5.4 per cent in capital goods, (-) 0.2 percent in intermediate goods and 2.5 percent in infrastructure/construction goods. The output of the mining and electricity sectors grew at 9.4 per cent and 8.3 per cent as compared to August 2016.

The output of mining and electricity sectors during the month accelerated to 9.4 percent and 8.3 percent from (-) 4.3 percent and 2.1 percent respectively in August a year ago.

The July IIP growth has been revised to 0.9 per cent from 1.2 per cent.

Earlier this month, the RBI left interest rates unchanged, after cutting the key rate by 25 basis points in August, while raising its retail inflation projection for October-March to a range of 4.2 to 4.6 percent, and lowered its economic growth estimates. A Reuters poll showed that economists expected consumer inflation to rise to 3.60 per cent in September.

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