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India industrial output growth slows to 11.5 pct in May

07-12-2010 17:36 BJT

MUMBAI, July 12 (Xinhua) -- Indian index of industrial production (IIP) recorded 11.5 percent year-on-year increase in May, lower than previous expectations, said a release by Indian Ministry of Statistics and Program Implementation on Monday.

The IIP stood at 312.6 points in May, lower than that of 316.7 in April, which represents annual increase of 17.6 percent.

The mining, manufacturing and electricity sectors posted growth of 8.7 percent, 12.3 percent and 6.4 percent in May respectively, from the same period of last year.

The index of manufacturing sector dropped 6.2 points from 341.5 in April compared with growth of indices of mining and electricity sectors.

Indian Finance Secretary Ashok Chawla said Monday nobody should expect that industrial manufacturing sector to continue to grow at abnormal high numbers for a long time due to capacity constraints.

Ashok Chawla expected the manufacturing sector will continue to see average growth with double-digit growth in the current fiscal year.

So far, Indian industrial production has reported eight monthly double-digit growth in a row, demonstrating brisk recovery from global economic crisis.

Moreover, the growth rate of capital goods plunged from 72.8 percent in April to 34.3 percent in May with growth of consumer goods decelerating from 14.5 percent in April to 8.2 percent in May.

Editor:Jin Lin |Source: Xinhua

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