India's industrial production increased 3.1 percent from a year earlier in May 2019, easing from an upwardly revised 4.3 percent gain in the previous month and slightly below market expectations of a 3.2 percent rise. Output growth slowed in manufacturing (2.5 percent compared to 4 percent in April); and mining (3.2 percent compared to 5.1 percent). Meanwhile, electricity production accelerated to 7.4 percent from 6 percent in the prior month. Considering April to May, industrial output rose 3.7 percent, slower than 4.1 percent in the same period of the previous fiscal year. Industrial Production in India averaged 6.27 percent from 1994 until 2019, reaching an all time high of 19.90 percent in November of 2006 and a record low of -7.20 percent in February of 2009.
Industrial Production in India is expected to be 5.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in India to stand at 3.20 in 12 months time. In the long-term, the India Industrial Production is projected to trend around 6.50 percent in 2020, according to our econometric models.