FX.co ★ India Industrial Output Grows 5.9%, Highest In 7 Months

India's industrial production experienced its fastest growth in seven months, primarily fueled by a significant increase in electricity output, according to data released by the Ministry of Statistics and Programme Implementation on Friday.

The industrial output surged by 5.9% year-over-year in May, up from a 5.0% increase in April. This growth surpassed economists' expectations, who had projected a slight slowdown to 4.9%.

Notably, this pace of growth is the highest recorded since October 2023, when production had soared by 11.9%.

Among the three major sectors, electricity output saw the most substantial growth, rising by 13.7%. This was followed by a 6.6% increase in mining output and a 4.6% rise in manufacturing production.

For the period from April to May, industrial production was up by 5.4% compared to the same timeframe last year, the data indicated.