India Industrial Production Grows More Than Expected

India's industrial production grew faster than expected in July, preliminary data from the statistics ministry showed Friday.

Industrial production grew 11.5 percent year-on-year, which was faster than the 10.7 percent increase economists had expected.

In the same month of 2020, production had shrunk 10.5 percent as the lockdown to limit the spread of the coronavirus pandemic hurt economic activity severely.

Manufacturing output grew 10.5 percent, mining production grew 19.5 percent and electricity output climbed 11.1 percent.

In the April to July period, production surged 34.1 percent from the same period last year.

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