India's industrial
production indicated a recovery in May this year, recording a month-on-month growth of 2.4 percent, following the contraction recorded in the previous two months, according to government data released on Friday, July 13.
The month-on-month industrial
production growth rate as measured by the Index of Industrial
Production (IIP) had been recorded at 6.2 percent in May 2011. Meanwhile, in March of the current year the IIP recorded a month-on-month decrease of 3.1 percent, followed also by a month-on-month fall of 0.9 percent in April.
However, sectoral concerns persisted with the mining industry registering a contraction of 0.9 percent and capital goods indicating a decrease of 7.7 percent in May this year, both on month-on-month basis. In May, the consumer durables industry posted a healthy growth of 9.3 percent compared to the previous month, while the month-on-month growth rates for electricity generation and
manufacturing were 5.9 percent and 2.5 percent respectively.