Sunday September 13, 2009

India industrial production output rise continued in Jul 2009 for 7th straight month

channelnewsasia.com :

India's industrial production output climbed for a seventh month in a row, rising 6.8% in Jul 2009 from a year earlier, driven by strong consumer demand, fuelling hopes of an economic rebound. India's strong industrial output may help offset the economic impact of poor monsoon rains that have hurt crops. Manufacturing which is 80% of industrial output also grew 6.8%. The rise was driven by inventory re-building and a pick-up in consumer demand.

Analysts said the data signalled the emergence of India's economy, Asia's third-largest, from the global downturn, albeit at a slower rate than China which grew 7.9% in the same period. India's growth has fallen from the 9% levels it clocked during previous years, as a result of the global economic recession. But recent data such as passenger car sales which jumped nearly 26% in Aug 2009 from a year earlier has spurred expectations that India's economy could pick up pace.

- So the proverbial green shoots are taking root in India as well as China, along with many other places around the world. The last statistic is also highly interesting, with the rise of 26% in Indian car sales. This jump, along with the even bigger 47% jump in China car sales, possibly signals the much-heralded rise of the domestic consumer in the emerging Asian economies of India and China.

See also :

1. India plans US$1b investment in Canadian oil sands
2. Lockheed to sell F-16's to India (and also to Pakistan)
3. India needs $500 billion spending on infrastructure
4. India wholesale inflation rate hits new 13-year high of 12.63% in Aug 2008
5. India inflation rate slows to 0.44% in Mar 2009, lowest on record

(2009-09-13 08:25:26 SGT) [Biz] Permalink

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