June Industrial output at 7.1% (MoM), 8.3%(YoY): govt

India’s industrial output in June rose at a slower-than-expected 7.1 per cent from a year earlier, its slowest pace in 13 months, government data showed on Thursday.

Manufacturing output rose an annual 7.3 per cent in June, the federal statistics office said in a statement.

The median forecast in a Reuters poll was for an annual rise of 8.4 percent. Manufacturing output rose an annual 7.3 percent in June, the federal statistics office said in a statement.

Industrial output rose 10.4 per cent in the 2009/10 financial year (April-March) , faster than the 2.8 per cent clocked in the previous fiscal year.

Anjali Verma, Economist, Mf Global said, “It is below expectations and I think it is largely the manufacturing side that has dissappointed. Although the base was higher, but on that basis only I was expecting around 8 percent. “Yes it is below expectations and one will have to see the trajectory going ahead. Overall, I think one will have to be more vigilant. “We are seeing that the infrastructure index is below par and it has not been performing for months. So one will have to be a little more vigilant now”

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