India's industrial production increased in February, though at a notably slower rate than in the previous month, defying economists forecast for a decline, latest government data showed Tuesday.
Industrial production increased 0.6 percent on an annual basis in February, contrary to economists forecast for a 1.2 percent decrease. The growth rate for February was, however, sharply slower than 2.4 percent recorded in January.
Driving the slowdown in overall growth, electricity production fell 3.2 percent annually, and mining output plunged 8.1 percent. Meanwhile, there was a 2.2 percent gain in production in the manufacturing sector.
In terms of industries, thirteen out of the twenty two industry groups in the manufacturing sector have shown positive growth during the month, data showed.
In the April 2012-February 2013 period, industrial output increased 0.9 percent from the corresponding period a year earlier, with output in the manufacturing sector and electricity sector growing 1 percent and 4 percent respectively, data showed.
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