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MENAFN - Qatar News Agency - 13/10/2012

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(MENAFN - Qatar News Agency) Despite investment which still appears weak, India's industrial production rose 2.7% in August, more than expected on a rebound in mining activity.

Markets took the news in stride, suggesting that investors believe the numbers will have little impact on whether the central back decides to cut interest rates later this month. Mining output rose 2.0%, marking a turnaround from a 5.5% contraction a year earlier.

Manufacturing rose 2.9% and electricity output increased 1.9% in August from a year earlier.

Friday's data also showed that production of capital goods " a sign of investment in physical assets such as machinery" slid 1.7%. The government revised its July figures, saying output contracted 0.2%, down from its earlier estimate of 0.1% growth.

 






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