May industrial output up 2.4% year-on-year: Govt

Jul 12, 2012 |

Reuters

New Delhi

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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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