India Industrial Output Slows In May

Dropping a little from 10.8% growth in May 2005, Indian industrial output rose 10% in May 2006, as the key manufacturing sector showed no change, official data showed July 12. However, the May figure would represent a pick-up from April when industrial output in the first month of the fiscal year rose 9.5%.

The manufacturing sector grew 11.3% in May, unchanged from a year ago. The sector has the highest weighting in the index at 80%.

The average for the April-May period was a gain of 9.8%, compared to 9.5% for the same period last year, the country's Central Statistical Organization said.

India's economy grew 8.4% in the fiscal year ended March, the second fastest rate in the world after China among the 20 biggest economies.

Around a quarter of India's gross domestic product is accounted for by industrial output.

Copyright Agence France-Presse, 2006

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