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India’s Industrial Output Still Sluggish In June

Source: http://indiaeconomywatch.blogspot.com/2008/08/indias-industrial-output-still-sluggish.html
Posted on Tuesday, August 12th, 2008 | In India
Contributed by: Edward Hugh (http://globaleconomydoesmatter.blogspot.com) -

India’s industrial output growth accelerated slightly in June. Output at factories, utilities and mines rose 5.4 percent from a year earlier after a revised 4.1 percent gain in May, according to data fromthe Central Statistical Organisation.

What this means is thatIndia’s industrial production grew 5.2 percent in the quarter ended June 30, almost half the 10.3 percent pace in the same period a year earlier, and this will almost certainly be an important negative for Q2 GDP growth. Factory output growth may well slow further in coming months following interest rate and cash reserve increases from the central bank.

Manufacturing, which accounts for about 80 percent of Indian production, gained 5.9 percent in June, compared with 9.7 percent in June 2007. Electricity output rose 2.6 percent in June from 6.8 percent in a year-ago, mining grew 2.9 percent from 1.5 percent and consumer-goods production increased 10 percent.

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About Edward Hugh (http://globaleconomydoesmatter.blogspot.com)
Edward Hugh is a macro economist, who specializes in growth and productivity theory, demographic processes and their impact on macro performance, and the underlying dynamics of migration flows.

Hugh is a founding member and regular contributor to a number of economics weblogs, including Global Economy Matters, Demography Matters and a number of others.

Edward 'the bonobo' Hugh is a Catalan economist of British extraction based in Barcelona. By inclination he is a macro economist, but his obsession with trying to understand the economic impact of demographic changes has often taken him far from home, off and away from the more tranquil and placid pastures of the dismal science, into the bracken and thicket of demography, anthropology, biology, sociology and systems theory. All of which has lead him to ask himself whether Thomas Wolfe was not in fact right when he asserted that the fact of the matter is "you can never go home again". He is currently working on a book with the provisional working title "Population, the Ultimate Non-renewable Resource".

Edward also writes regularly for the demography blog Demography Matters. He also contributes to the Indian Economy blog . His personal weblog is Bonobo Land . Edward's website can be found at EdwardHugh.net.

Edward follows in detail the Indian, Italian, Spanish, German and Japanese economies. He also has a more than a passing interest in the economies of Turkey and Brazil and in the emerging economies of Eastern Europe.

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