This improvement follows a period of weakened private consumption, which had dipped to 4% last fiscal year. The normalization of the monsoon in July and increased kharif sowing are expected to boost agricultural output, easing food inflation and enhancing discretionary spending.
The Index of Industrial Production (IIP) showed a significant rise of 5.9% year-on-year in May, up from 5.0% in April, indicating a healthy surge in industrial activity. This growth was primarily driven by higher outputs in manufacturing and electricity, despite a slight slowdown in mining output growth. Consumption-oriented sectors were the main drivers of this increase in May, although growth in infrastructure and investment-related goods decelerated.
Diese Geschichte stammt aus der July 17, 2024-Ausgabe von The Business Guardian.
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Diese Geschichte stammt aus der July 17, 2024-Ausgabe von The Business Guardian.
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