India's July industrial output growth slows to 6.7% y/y as mining contracts

By Shubham Batra

NEW DELHI, ‌Aug 28 (Reuters) - ​India's ​industrial output growth slowed to 6.7% year-on-year in July, data showed on Friday, ‌as mining activity contracted, with growth in ⁠manufacturing and electricity output also easing.

Economists polled by Reuters expected ‌industrial output growth to ‌slow to 6% in July from a revised 8.8% a month earlier.

In May, the government ​had shifted to producer prices from wholesale prices for factory output calculation.

KEY NUMBERS

• Manufacturing output ⁠grew 7.3% year-on-year in July against a revised growth of 9.5% ​in June.

• Electricity generation rose 8.7% year-on-year in July against a revised increase ​of 11.3% a month earlier.

• ‌Mining activity declined 0.9% year-on-year in July against a revised growth of 1.6% ⁠in June.

• Output of consumer durables, including cars and phones, grew 10.5% year-on-year in July against a ⁠revised 10.3% increase a month earlier.

• Output of consumer non-durables, ​such as food items and toiletries, fell 1% year-on-year in July against a revised 5.6% rise in the ‌previous month.

• Capital goods output rose 16.1% year-on-year in July against a revised ‌17.9% increase in June.

• Industrial output in April-July ⁠grew 6.3%, compared ‌to an increase ​of 4% a year earlier.

(Reporting by Shubham Batra in New Delhi; Editing by Janane ‌Venkatraman)

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