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May industrial output up 2.4 pc vs 0.1 pc in April
Reuters | 12-Jul 11:24 AM
New Delhi: India's industrial production grew at a higher-than-expected pace of 2.4 per cent in May driven by manufacturing output, government data showed on Thursday.
Analysts had expected a rise of 1.8 per cent in May output, a Reuters poll showed. The May figure compares with revised figures that showed an annual contraction of 0.9 per cent a month ago.
Along with June wholesale price inflation, scheduled for Monday, the notoriously volatile IIP data could be instrumental for the Reserve Bank of India to take a call on the rate cuts at a policy review on July 31.
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