Sunday, 22 October, 2017

Retail inflation at 3.28% in September

Industrial production has made a remarkable growth at 4.3% defying slowdown from previous month’s 1.2 Industrial production has made a remarkable growth at 4.3% defying slowdown from previous month’s 1.2
Juana Turner | 13 October, 2017, 00:36

Industrial production, as represented by Index of Industrial Production (IIP) for the month of August 2017 stands at 121.5, which is 4.3 percent higher as compared to the level in the month of August 2016.

India's factory output saw smart recovery growing at 4.3% in August against a downward revised 0.9% growth a month ago, as manufacturing sector expanded at 3.1% a month after implementation of goods and services tax (GST).

India's consumer price inflation held steady in September, defying expectations for an acceleration, preliminary data from the Central Statistics Office showed Thursday.

The YoY CPI dropped to 3.44 per cent in urban areas and 3.15 per cent in rural areas in September as compared to 3.64 per cent and 5.04 per cent respectively in the corresponding period previous year.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country's business landscape.

The rate of price in vegetables softened to 3.92 per cent (from 9.97 per cent in August).

The output of the mining and electricity sectors grew at 9.4 per cent and 8.3 per cent as compared to August 2016. At least 10 industry groups showed growth in manufacturing sector. It is also below the Reserve Bank of India's medium target of 4 per cent.

Meanwhile, the July IIP number was revised to 0.94 per cent from 1.2 per cent provisional estimates released last month. The primary goods output is at 7.1 per cent in August, against 2.3 per cent in July, the capital goods output is at 5.4 per cent in August, against -1 per cent in July.

Food price inflation eased to 1.25 percent from 1.52 percent.

Recommended

Dems who opposed Iran nuke deal urge Trump to keep pact Dems who opposed Iran nuke deal urge Trump to keep pact On the other hand, some argue decertification and the possibility of USA sanctions on Iran might win support from the Europeans. Many Democrats believe that is more likely to happen if Congress does not act to make changes to the existing agreement.

Arsenal facing a defensive crisis as a challenging week awaits Arsenal facing a defensive crisis as a challenging week awaits Chambers has only played one game this season, in the EFL Cup against Doncaster, but has just been given a new deal by Wenger. At the moment he is not available. "He trained on his own and the signs were positive so we will test him on Friday".

In phone call, United Nations chief offers congratulations and support to Palestinian President In phone call, United Nations  chief offers congratulations and support to Palestinian President Rival Palestinian factions Hamas and Fatah on Thursday signed a landmark reconciliation agreement in Egyptian capital Cairo . An Egyptian source close to the talks said intelligence chief Khaled Fawzi had followed the negotiations closely.